“Strategy” is one of the most ubiquitous words in the world of corporate management. Countless meetings, research, consulting hours and presentations go into in drafting and refining strategic documents. Yet many organisations falter or even fail when it comes to the next step – executing these strategies.
You’ll find far more books and articles on strategy planning and development than on execution. Strategy is sexy. Execution, on the other hand, is a complex chain of decisions and activities happening in real time across an entire organisation. There are innumerable ways for things to go awry when turning strategies into realities, but these three major challenges seem most prevalent: