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Statistics Suggest You Will Fail to Successfully Execute Your Strategies
Learn 3 reasons strategies fail and 3 keys to strategic success
In their book The Balanced Scorecard, authors David Norton and Robert Kaplan note that 90% of organizations fail to execute their strategies successfully. That is an alarming statistic — one that likely includes, or will include, your organization.
Before you dismiss this claim as too unbelievable and not something you could possibly fall victim to, think about the consequences of being one of these companies. Presuming you have clearly-defined strategic objectives and measures of success driving your business, what would be the impact of failing to meet those targets?
As a strategic management consultant, I battle this problem every day. It’s a dismal statistic with devastating consequences. The good news is the reasons for failure are well-understood and the solution is proven. Learn the common reasons for failure, and the keys to success, so you can avoid being a statistic.
3 Reasons Why Strategies Fail
The bottom line is management does not give strategy the same level of commitment, focus, and leadership as other functions within the organization.
