An impressive 70% of companies with a formal strategic planning and execution process in place report outperforming their peers.
Having a strategic plan is one thing. Putting it into action is another. Let’s break down both steps:
Strategic planning is the process of establishing and documenting the direction of your organization – where you are today and where you’re going over the long term. It is an ongoing process that can be done in-house or with the help of outside consultants.
Strategic execution is the formal process for making good on your strategic plan. Only about half of organizations have a formal strategic execution process. But of those that do have a formal strategic execution process, 70% report outperforming their peers.
Strategic execution is the result of thousands of decisions made daily by individuals acting on the information they have available.
Employees at three out of every five companies rate their organization weak at execution. After the buzz of planning settles down, many teams fall into routines that include ad hoc tasks or admin items that are not directly tied to company success. If there is not a daily reminder or insight into the plan, employees will just work on what is right in front of them, or what is on fire, versus what counts long term.
Failure to work on the right things is also an indication that employees do NOT know what the priorities are based on the long term plan. Less than 10% of employees report that they understand their company’s strategy.
And as a result, 60-80% of companies fall far short of the targets set in their strategic plan.
Strategypoint builds on decades of expertise to offer best-in-class processes for strategic execution. Users at every level of your organization have better access to strategic information, real-time measurements of success, and strategic alignment to the actual work getting done. In a nutshell, the solution SHOWS everyone the plan, it’s goals, and how to execute (work) on the plan.
When the plan is front-and-center, and the work is clearly defined, everyone can execute on the plan.
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