Why do businesses consistently fail to execute their competitive strategies?
Ninety percent of businesses still fail to execute their strategies because their leaders do not understand how to break each strategy down into groups of activities and sequences of events that drive the company steadily toward its desired goal. Beyond that, managers often fail to prioritize activities, assign responsibility, and decide on measures of their success. They often neglect to revise the strategic portfolio to stay connected to strategic projects through completion, as new products, services, skills and capabilities are transferred into operations. The authors argue that successful project design translates into successful strategic execution. As well as, projects provide the critical link between knowing the strategy and making it happen in your organization.
In Executing Your Strategy, Mark Morgan, Raymond Levitt, and William Malek present six imperatives that enable you to do the right strategic projectsthe right way. And it is no accident that the six imperatives combine to create the acronym INVEST:
- Ideation: Clarify and communicate Purpose, Identity and Long Range Intention
- Nature: Develop alignment between Strategy, Structure and Culture based on Ideation
- Vision: Create clear Goals and Metrics aligned to Strategy and guided by Ideation
- Engagement: Do the right projects based on the Strategy through Portfolio Management
- Synthesis: Do Projects and Programs right, in alignment with Portfolio
- Transition: Move the Project and Program outputs into Operations where benefit is realized
Filled with diverse, intriguing company examples and practical advice, this crucial new resource shows you how to make successful strategy happen in your organization.
- Additional Information
ISBN 978-1591399568 Publication Date Nov-07 Author Mark Morgan, Raymond E Levitt & William A Malek Format Hard cover Page Count 290 Manufacturer Harvard Business School Press