Operations are prioritized over change in most companies
A new global study of maturity in strategy execution is presented for the first time in an easy-to-read report. Among other things, the report uncovers what strategically successful organizations do differently. It also highlights the link between successful strategy execution and the bottom line.
Most companies are stuck in the 1950s when it comes to methods of executing, monitoring and following up their strategies. At the same time, they are going full steam ahead with digitization in the rest of their business. That's the impression one is left with after having read the conclusions of the recently published STRATEGY MATURITY SURVEY.
The survey and accompanying report were carried out for DecideAct by Professor Antonio Nieto-Rodriguez and cover 400 organizations from 71 countries. Among the conclusions of the survey:
- Only 84 out of 400 companies use some form of digital tool to consolidate data from operations and strategy execution.
- 78% of respondents have no tool at all to monitor their strategy execution.
- Only half of organizations make the distinction between running and changing the business when setting objectives.
- 60-100% of resources are devoted to running the business.
- Only half of the organizations link projects fully or partially to strategic objectives and follow them to the end of the project.
- The best-performing organizations have a strategy department and a PMO function that implement tools and develop skills to help achieve higher levels of success.
Rodriguez has conducted intensive research on the subject over the past seven years, processing the data collected to present it in a structured and relevant form. The report identifies best practices and highlights the link between successful strategy execution and positive bottom-line results. It also focuses on how aspects such as organization, culture, management processes, tools and reporting affect strategy implementation.
Antonio Nieto-Rodriguez's report, the first of its kind, is published by DecideAct, a leading provider of software solutions for Strategy Execution Management. The 20-page report of the study, including tables, can be downloaded free of charge via this link: https://info.decideact.net/survey-strategy-maturity
CEO and co-founder of DecideAct, Flemming Videriksen says: "Through many conversations with top executives in large companies over the past 25 years, we have seen that almost all of them struggle hard to turn strategies into reality. And few of them succeed. With this study, we have some well-founded facts about what exactly makes strategy execution so difficult. What’s urgent simply takes precedence over strategic priorities, and the only way out of the mire is to insist that strategic change management be addressed on the same level as finance. The report clearly indicates that companies that do this perform better."
Antonio Nieto-Rodriguez is author of the Harvard Business Review Project Management Handbook, the featured HBR article The Project Economy Has Arrived, and four other books. Antonio is the creator of concepts such as the Project Economy and the Project Manifesto. His research and global impact in modern management have been recognized by Thinkers50. Fellow and Former Chairman of the Project Management Institute, he is the founder of Projects&Co and co-founder of the Strategy Implementation Institute, and he is a member of Marshall Goldsmith 100 coaches. You can follow Antonio through his LinkedIn Newsletter - Lead Projects Successfully and website https://antonionietorodriguez.com.
For press contact and further information on the report and its conclusions, please contact Bo Feierskov at firstname.lastname@example.org or mobile: +45 27114465