??250 Strategy Execution challenge: from 1 to 20 ?
More and more people are convinced about the importance of strategy execution. But there?s still a small group that needs a nudge, a small push in the right direction. Here are 20 strategy execution facts and figures that help you get this done.
1. Companies realise only 63% of the financial performance their strategies promise because of defects and breakdowns in planning & execution. More than 1/3 placed the figure at less than 50%. (Harvard Business Review)
2. 15 percent believe the strategy to be wrong for their company. (the performance factory)
3. Almost all ? 94 percent ? have indicators that relate not only to financials, but also to customers, processes or people. (the performance factory)
4. Around 1 in 3 ? 30 percent ? receive no information on how to execute the strategy. (the performance factory)
5. Only 61 percent is convinced that the strategic initiatives are staffed with the right people. (the performance factory)
6. As little as 27 percent believe that the strategic initiatives are being managed correctly. (the performance factory)
7. 27 percent doesn?t receive any individual feedback. (the performance factory)
8. As many as 17 percent lack leadership objectives. (the performance factory)
9. 17 percent indicate that performance isn?t monitored. (the performance factory)
10. Only 7% of employees today fully understand their company?s business strategies and what?s expected of them in order to help achieve the company goals. (SuccessFactors)
11. 38 percent indicate that poor performers don?t face any consequences. (the performance factory)
12. More than one third ? 37 percent ? have never had the opportunity to participate in a 360? skills assessment exercise. (the performance factory)
13. 18 percent is unable to explain how to set individual objectives. (the performance factory)
14. The implementation of a performance management system based on the Balanced Scorecard leads to immediate, noticeable improvement of the financial results and a better understanding of the operating model. Only 5% of the companies studied haven?t noticed any improvements. (Manager & Literatuur)
15. 27 percent receives no training on essential management skills. (the performance factory)
16. 36 percent do not question appraisals objectively. (the performance factory)
17. Of all managers, 24 percent do not receive any useful strategy information from other departments. (the performance factory)
18. Only about 20% of workers say their managers coach them regularly to help them improve their performance. (HRI)
19. Companies rarely track performance against long-term plans: less than 15% of companies make it a regular practice to go back and compare the business?s results with the performance forecast for each unit in its prior years? strategic plans. (Harvard Business Review)
20. For a typical business unit, top management and the board should monitor no more than 3 to 5 metrics, representing different areas of the business for each of the three time frames: short-term, over the next 1-5 years, and long-term. (McKinsey Quarterly)
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Source: http://jeroen-de-flander.com/20-facts-and-figures-about-strategy-execution
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