“Vision without execution is hallucination” – Thomas Alva Edison
Today, companies struggle to bridge the gap between Strategy and Execution. The seeming disconnect between decision making and the strategy has prevented organisations from optimizing their business performance.
Regardless of where you sit in an organization, everyone has faced this issue. On one side you have strategy – the decisions that come down from management about how we should succeed in the market. On the other side you have execution – the day to day activities that all of us participate in every day to ensure that the organization can move forward.
But why does this gap happen? There are lots of reasons, but part of it is the fact that employees or team members often don’t understand how the strategy affects them or how their decisions impact others. In other cases, the systems we have in place for management often don’t adequately empower employees to make their own decisions. And even when they do empower employees, there is no mechanism in place to ensure that the decisions that are being made are in agreement with the strategy. And prob
But why does this gap happen? There are lots of reasons, but part of it is the fact that employees or team members often don’t understand how the strategy affects them or how their decisions impact others. In other cases, the systems we have in place for management often don’t adequately empower employees to make their own decisions. And even when they do empower employees, there is no mechanism in place to ensure that the decisions that are being made are in agreement with the strategy. And prob
ably one of the most often overlooked reason – too often strategy is managed using inadequate tools.
“Less than 10% of strategies effectively formulated are effectively executed” – Fortune Magazine
What are the causes of the gap?
- There’s no formal mechanism for tactics to influence strategy or to share best practices.
- There’s no link between the budgeting process and strategy.
- Incentive systems aren’t linked to strategy, so individual goals are not aligned with the company’s and often inadequate consequences and rewards exist.
- Team members don’t understand how the strategy affects them, and how their decisions impact others.
- It’s unclear as to who is accountable for ensuring execution of initiatives, projects, and tasks.
- Plus … there needs to be Executive Commitment and a culture of performance management
Solution: Projects Management Alignment
Projects Management connects goals, initiatives, and metrics, the three cornerstones necessary to help drive effective execution. Ninety percent of all organizations are unable to execute on their strategy. Businesses with alignment will show a better performance, increased productivity, and greater employee, constituent, and customer satisfaction.
iCentra Enterprise Project Management Solution Closing the gap in between Strategy and execution.
