Strategy or Implementation – Which matters most?
Without a strategy you don’t know where you are going but without effective implementation you are not going to get to where you want to go.
It is often said a 3 star strategy with a 5 star implementation is far better than a 5 star strategy with a 3 star implementation, however why can’t you have both!
One definition of strategy is that it is the aligning of external opportunities with internal capabilities. One element of your internal capability therefore is your ability to implement! A recent study found that ‘70% of strategic failures were due to bad execution and rarely because of a lack of intelligence and vision’. What methods do you employ to improve the execution / implementation of your strategy? More information can be found here.