Too many managers have experienced this scenario: The chief executive announces a bold new corporate initiative aimed at generating dramatic performance improvements. The initiative calls for sweeping changes in the company’s processes, systems and culture. The launch proceeds with great fanfare and a substantial investment of the company’s resources.
In fast-paced industries, companies should think of strategy as an iterative loop with four steps: making sense of a situation, making choices, making things happen and making revisions.
Six silent killers of strategy implementation exist in most companies, but too many managers avoid confronting them. Leaders need to face these killers if they and their organizations are to learn and succeed.
The strategic planning model is due for a “new release,” one that enables companies to keep pace with changing environments, quickly create and adapt strategy and empower people throughout the organization to make effective choices.
Companies that continue to take a tactical, short-term approach to communicating with key constituencies will find it increasingly difficult to compete. Developing an integrated, strategic approach to communications will be critical to success.