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Article Surfing ArchiveBusiness Strategy Execution: 4 Reasons Why Your Company's Strategy Isn*t Working - Articles SurfingThere are many different value-creation strategies your company can follow to marketplace success. Perhaps your organization's differentiating strategy is: * Offering outstanding customer service like Nordstrom. Your business strategy defines your company's intent. In essence, it's a promise * a promise that defines what your organization intends to deliver to its customers and the marketplace. But articulating a good strategy is only the beginning. It's the strategy's execution that determines whether an organization can turn good intentions into profits. Poor Business Strategy Execution Is Destroying Business Opportunities Companies invest so much time, energy and finances into identifying market opportunities and developing the perfect differentiating strategy to exploit them. Yet the vast majority of these business efforts fail. Quite often, companies and organizations blame their business failures on poor strategy. However, in most cases it's not the strategy or plan for approaching the marketplace that should be blamed. It's the implementation of that plan and the company's inability to *keep its promise* that causes the enterprise to falter. In fact, several studies confirm that poor execution is the number-one reason businesses fail in today's marketplace. David Norton, author and professor at Harvard Business School, tells us that less than 10% of all business strategies are effectively implemented. This means that poor marketplace execution of the strategy is often the culprit, and not the strategy itself. This is a wake-up call for all business executives. Here Are Four Primary Reasons Why Your Strategies Aren*t Living Up To Their Full Profit Potential: 1. The strategy fails to recognize the limitations of the existing organization. 2. Employees don*t know how the strategy applies to their daily work. 3. The organization's business systems or processes can*t support the strategy. 4. Performance metrics and rewards are not aligned with the strategy. These issues share one common theme * your organization's preparedness to implement the go-to-market strategy you have created. Strategy has to be more than a feel-good presentation shared with your managers, shareholders and the media. It has to be woven into the fabric of your organization. Your employees need clear direction and the tools and processes necessary to support them. You need to *activate* your strategy. Strategy Activation is the new bridge that spans the chasm between strategic intent and marketplace implementation. It takes *what* an organization wants to do and defines *how* it is going to do it. It ensures that every employee drives the promises made to the marketplace across every customer touchpoint every day. Without this, your strategic vision will remain a presentation and nothing more.
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