We just rolled the clocks back, so chances are you are either getting started or are well into your strategic planning exercises for 2019. Unfortunately, the chances of successfully deploying a strategy and achieving stated goals are low for most organizations. In their book The Balanced Scorecard, authors David Norton and Robert Kaplan note that 90 percent of organizations fail to execute their strategies successfully.
What accounts for a 90% failure rate? Why do so many companies put a ton of effort into developing a strategic plan, only to miss the mark?
In developing the KaiNexus platform for strategy deployment, we’ve had the chance to chat with leaders in many industries about the planning process. We’ve talked a lot about what works, but also about what doesn’t. When it comes to strategy deployment, there are some common pitfalls that our clients have learned to avoid. Here’s what not to do.