Strategy execution is the process of setting your strategic plans into action in an effort to reach your organization’s goals and objectives. It is the process that comes after strategic planning where you define your strategic plans.
Strategy execution is a challenging task for many reasons. According to Harvard Business School Press, 90% of well-formulated strategies fail due to poor execution. Other reasons include unclear strategy, poorly defined roles and responsibilities, lack of ownership, lack of resources, loss of focus, lack of information sharing, and others.
Tor Inge Vasshus and Emma Ramos suggest seven tips to overcome the common pitfalls of strategy execution and turn your strategy into action.
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