Posted by Oliver Nyumbu
November 16th, 2008 | 1 Comment »
Studies have found that less than 10 percent of effectively formulated strategies carry through to successful implementation. Some 90 percent of companies consistently fail to execute strategies effectively. One key to effective strategy execution is the fact that it results from executing the right set of strategic projects/work streams in the right way. These numbers seem to chime with the experience and research of change expert John Kotter.
Referring to his work for the book Leading Change, Kotter explains:
“That book was based on the analysis of about one hundred efforts in organisations to produce large scale change: implementing new growth strategies, putting in new IT systems, reorganising to reduce expenses. Incredibly, we found that in over 70 percent of the situations where substantial changes were clearly needed, either they:
- were not fully launched, or
- the change efforts failed, or
- changes were achieved but over budget, late, and with great frustration
We also found that in about 10 percent of the cases, people achieved more than would have been thought possible. Surprisingly, at least to us, in those 10 percent a similar formula was used in virtually all instances”
Sound familiar? What has been your experience?