The successful implementation of a strong and robust strategy gives any organization a competitive edge. In current turbulent environments, the ability to quickly develop a new strategy often means the difference between success and failure for organizations. Well-formulated strategies only produce superior performance for organizations when they are successfully executed. Even the best strategy worthless without successful strategy implementation. However, many studies have found that most strategy implementations fail.
This Successful Strategy Implementation presentation presents the Strategy Execution Model that helps organizations plan and implement and manage their strategy but also monitor, learn and adapt their strategy implementation to achieve sustainable organizational success. This way, organizations can successfully implement its strategy and achieve its goals.
Presentation | Successful Strategy Implementation | Dr. Arnoud van der Maas
STRATEGY EXECUTION BEST PRACTICES BASED ON RIGOROUS RESEARCH
This Successful Strategy Implementation presentation is based on my PhD research on Strategy Execution at Rotterdam School of Management, Erasmus University – one of the top business schools in Europe with one of the top strategy departments in the world. Research reports that between 60 to 90 percent of strategies fail. Most strategies fail in the execution phase. Despite its crucial importance to every organization, research on strategy execution remains limited. Strategy research has traditionally focused on strategy formation and neglected strategy execution. To fill this crucial knowledge gap, I investigated why strategies succeed or fail.
My PhD research identified 20 success factors that influence the success of a strategy implementation effort in public and private organizations. The success factors are based on over a hundred in-depth interviews with executives and managers in a wide variety of organizations around the world, both in the private and public sector. The insights and practices that emerged from the interview where subsequently synthesized into the Strategy Management framework. Successful strategy execution is the result of the interplay of five mutually reinforcing practices: developing the strategy, executing the strategy, controlling the strategy, mobilizing the people who have to deliver the strategy, and aligning the organization to the strategy.Download Now