Or could it be that you’re failing at planning?
- According to recent studies, between 70% and 90% of organizations that have formulated strategies fail to execute them.
- A Fortune Magazine study has shown that 7 out of 10 CEOs who fail do so not because of bad strategy, but because of bad execution.
- In another study of Times 1000 companies, 80% of directors said they had the right strategies but only 14% thought they were implementing them well. Only 1 in 3 companies, in their own assessment, were achieving significant strategic success.
- Research published by the Harvard Business Review shows that on average, companies deliver only 63% of the performance that is anticipated in their strategic plans.
If you’re worried about failing to meet your plans for the year, don’t forget what John Lennon said. “Life is what happens to you while you’re busy making other plans.”