Success in business strategy includes two separate activities — designing strategy and executing it. Strategy design involves answering the question: Is our strategy suitable for our organization’s circumstances? Strategy execution is about answering the question: How well have we executed our intentions?
3 Traps to Avoid When Executing Your Strategy
Number 1: Letting too many people weigh in.
December 05, 2023
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Summary.
When executing strategy, companies typically fall into one or more of three traps: 1) They let too many people weigh in; 2)They plan a lot of activity but do not specify concrete actions; and 3) They tend not to build in accountability into execution. The result is that. lot a good strategies never take off. This article offers pointers on how to avoid the three traps.
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How to develop a winning strategy—and put it to work.
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New!
HBR Learning
HBR Learning
Strategy Planning and Execution Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Strategy Planning and Execution. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
How to develop a winning strategy—and put it to work.