Business Strategy and Execution

Every company aims to formulate good strategy and execute that strategy well. But many times it is found that it was either good strategy, bad execution or bad strategy and good execution. Why and how to avoid this?

Let us begin with what is a strategy? In simple terms, it means the plan to achieve the desired goals or results. If any organization has well defined goals, and can develop a strategy to achieve them, it should be half the battle won. But it is seen that execution fails. Why should that be so? It may be the fault of the team that executes the strategy, or certain unknown factors that unexpectedly or unknowingly creep in while executing the plan.

What should be done? Ideally the team that forms the strategies should consider the factors such as who are the people who will execute, does the company have the capacity to execute, what if any unexpected change or event occurs while executing, what are the risks involved, and so on. No strategy can be created without taking into account the ability of the people who will be executing it. One may create a great marketing plan but if the field marketing staff fails to understand and execute the game, it is...