Strategies without Execution: Real-life Hauntings

They say that if you can dream it, you can achieve it. I’ll take this a step further by saying that if you can achieve it, you likely dreamed it up as well; and a recent HBR study proves that’s true. According to the results, 62% of great strategists are also great executors, while 73 percent of great executors are also great strategists.

There is a Japanese proverb that says, “Vision without action is a daydream. Action without vision is a nightmare.” What we can take from it is this: having people in your camp who can both strategize and deliver on those strategies is crucial to the success of your business.

Organizations spend lots of money on strategy development. Many even hire consulting firms like McKinsey to help them design daydream-like strategies. Yet, most quickly turn to nightmares. In fact, 75% of organizations struggle to implement the strategies they work so hard (and pay so much) to create.

How do you turn the tables? Perfecting your hiring practices by taking a deeper look into the track records of your senior managers is a great starting point. Beyond that, you need methodologies in place that reinforce the importance of effective execution.

Here are five crucial components according to HBR:

Carl is a business psychologist and leadership development expert who focuses on the development of high performance leaders. www.leadershipconsulting.com

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