3 Traps to Avoid When Executing Your Strategy

December 6, 2023 | 7:42 am

Number src: Letting too many people weigh in.

December 05, 2023

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When executing strategy, companies typically fall into one or more of three traps: src) They let too many people weigh in; 2)They plan a lot of activity but do not specify concrete actions; and 3) They tend not to build in accountability into execution. The result is that. lot a good strategies never take off. This article offers pointers on how to avoid the three traps.

Success in business strategy includes two separate activities — designing strategy and executing it. Strategy design involves answering the question: Is our strategy suitable for our organization’s circumstances? Strategy execution is about answering the question: How well have we executed our intentions?

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Graham Kenny is CEO of Strategic Factors and author of the best-selling book Strategy Discovery. He is a recognized expert in strategy and performance measurement who helps managers, executives, and boards create successful organizations in the private, public, and not-for-profit sectors. He has been a professor of management in universities in the U.S., and Canada. You can connect to or follow him on LinkedIn.