For a business to succeed – whether a startup or an established one – a strong business strategy is important. However, often enough it is noted that even a strong business strategy with all the ingredients for success fail. And the businesses wonder what happened – why did the strategy that was supposed to be a sure shot success failed miserably.
The answer lies in execution. Yes, you read it right. Even an excellent business strategy can fail if it is not executed properly. And this is where an organization requires the expertise of a business strategy professional. Let’s find out who is a business strategist and how can she ensure that a grand business strategy is executed successfully so that it yields the desired results.
Who is a business strategist?
Business strategy professional is one determine targets for their organization. Once the targets are determined, a she will then prepare strategic plans to ensure that those targets are met. The work of a business strategy professional involves analyzing the existing strategies and practices, identifying areas for improvement and developing innovative strategies related to the goals they help establish.
How does she help formulate business strategy that are executed successfully – is the next question that comes to the mind.
Strategy-Execution Gap…Is It Real?
While a business strategist as a part of her duty does prepare documentation related to the targets, and she also document plans to reach those targets, there are times, when she thinks that her job is done once a business strategy is ready. What she fails to understand that the job of a business strategist is not over till the business strategy is implemented successfully.
On the other hand, it is quite easy to blame the execution team for the failure of a grand business strategy.
The answer to the question asked earlier is – yes, the gap between strategy and its execution is real and it needs to be addressed if organizations need to execute their business strategies successfully.
However, before you work on strategy-execution gap, you need to understand the reasons behind the failure of a grand business strategy. Here are twelve reasons why even grand business strategies fail, leaving business houses in lurch.
- The strategic plan is too overwhelming.
- The goals are quite unrealistic.
- There is a dearth of leadership.
- Structural changes get too much focus.
- There is no clear accountability.
- There is an absence of empowerment.
- There is a communication gap.
- Managers are too caught up in daily grind.
- There is no proper clarity on the actions required.
- There is no proper monitoring.
- There is no information on progress report.
- There is a lack of alignment.
These are the major reasons why sure-shot business strategies fail. Now if you really want to implement your business strategy successfully, then you need to do the following –
- The strategy has to defined clearly.
- You need to align the organization with the strategy in order to succeed.
- Pick and choose relevant employees and deploy the strategy to them
- Keep monitoring regularly.
Of course, a certified business strategist will be able to successfully draft and execute the strategy. And if you want to be a successful business strategy professional then you can go for professional business certifications to strengthen your career chances.