From the course: Assessing and Improving Strategic Plans
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Executing poorly
From the course: Assessing and Improving Strategic Plans
Executing poorly
- To get the benefits of your great strategic plan, you have to execute well. A good plan without execution is worthless. Poor execution happens because people lack skills, they lack resources, or they don't have a desire to do things right. You'll need to monitor execution carefully to see why you're falling short of achieving your strategic objectives. Once you understand what the issue is, execute remediation plans quickly. I worked with one CEO who had a great strategic plan, that wasn't the problem. The business units weren't able to execute the plan. They didn't have enough resources in some cases, they had poorly trained and motivated people in others. The CEO didn't rectify their performance quickly enough, eventually the company was acquired by a competitor because this company wasn't hitting their strategic objectives. The CEO's failure in this case wasn't in missing the signs, but what was going wrong. It was in not taking action early enough. Some problems you might face…
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