Most organizations fail because they do not execute their strategic plan very well.

Organizations fail to execute their strategic plan because they have poor strategy management

There are a number of reasons for this failure to execute the strategic plan.

No one is in charge of the strategic plan .

• There may be a vice president of strategic planning who facilitates the strategic plan but does not have the authority on a day to day basis to execute the strategic plan
• Senior executives are so busy putting out fires that it is easy for them to lose focus on what the strategic plan was
• CEO gets focused on tactics rather than strategy. Some surveys indicate that a typical CEO might spend less than 1 day per month focused on the strategic plan.

Strategy Management to the rescue

• There must be a person who is in charge of strategic execution in addition to strategy creation.
• some companies create the Office of Strategic Management to facilitate this
• The Balanced Scorecard approach can help get everyone focused on how what they do affects strategy.