Overcoming Common Pitfalls
Strategy execution, the art of turning a well-crafted plan into tangible results, is an endeavour fraught with pitfalls. The difference between a promising strategy and its successful execution often lies in the people and leaders driving the process. In this article, we will examine the most prevalent obstacles and provide some questions to prompt reflection on overcoming them.
Here, we examine the most prevalent obstacles and provide some questions to prompt reflection on overcoming them.
The Chasm of Individual Commitments
Without individual commitments, the strategy implementation is likely to fail. People who are not committed to a strategy will not be very motivated to implement that strategy and achieve its goals. In the end, people are the ones who have to execute the strategy in order to make it a success.
People might readily pledge support for company-wide goals, but when asked to put their personal commitments in writing, many hesitate.
Strong individual commitments serve as the foundation for successful execution. Individual commitments drive team commitments, and team commitments drive business outcomes.
You may struggle to answer questions such as:
This gap in ownership can impede strategy execution. To address this issue:
The Perils of Partial Knowledge
Organisations depend on a diverse group of individuals, including senior leadership, executive management teams, and contributing team members, to execute their strategy. We must accept that communication does not mean a complete understanding of the strategy. Partial understanding is like kryptonite that undermines the successful execution of that strategy.
People often pretend to be experts in various areas, which can lead to disastrous outcomes. They don’t question the underlying assumptions of their belief in their understanding and capabilities, erroneously assuming they possess the necessary skills to deliver on the strategy. A lack of self-awareness about what we know and what we don’t know, particularly among key initiative leaders, can result in your plans getting shipwrecked.
Some leaders may be hesitant to acknowledge their lack of understanding due to various cultural and personal insecurities. It is essential for everyone to recognise that we don’t know what we don’t know. By admitting our knowledge and capability gaps, we can take the action required to ensure the success of the strategy execution. This awareness and willingness to learn can ultimately strengthen the execution of a strategy and contribute to an organisation’s growth and success.
When leading a mission-critical project, we must ensure we are open and upfront about our level of understanding and competence to deliver on the commitments.
You must ask yourself the following to really gain the awareness needed:
To overcome this challenge: