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July 28, 2005
Three reasons why good strategies fail...
(Posted by gabe to: best practices )Execution, execution, execution. The current issue of the on-line newsletter Knowledge @Wharton has a thought provoking article on why good strategies fail.
It is usually pretty obvious why bad strategies fail, but diagnosing what sinks good strategies is a little trickier. An example cited in the article is that execution of a strategy is often derailed because the focus of the strategy is allowed to shift over time. The attempt by Hewlett-Packard, after it acquired Compaq, to compete with Dell in PCs through scale is a classic example of goal-shifting -- competing on price one week, service the next, while trying to sell through often conflicting, high-cost channels. The result: CEO Carly Fiorina lost her job and HP still must resolve some key strategic issues.
The article's key premise is that the challenge of execution is synchronization--getting the various elements of an organization "in-sync" with one and other primarily through clear and consistent communication of a strategic objective, and not allowing the strategy to shift over time.
Posted by gabe at July 28, 2005 10:25 AM | Bookmark This
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