February 2020
Intermediate to advanced
256 pages
4h 3m
English
Content preview from HBR Guide to Managing Strategic InitiativesBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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CHAPTER 20
Five Ways the Best Companies Close the Strategy-Execution Gap
by Michael Mankins
Executives say that they lose 40% of their strategy’s potential value to breakdowns in execution. In our experience at Bain & Company, however, this strategy-to-performance gap is rarely the result of shortcomings in implementation; it is because the plans are flawed from the start.
Too many companies still follow a “plan-then-do” approach to strategy: The organization works tirelessly to create its best forecasts about the future market and competitive landscape. Leadership then specifies a plan that it believes will position the company to win in this predicted future. This approach may have made sense when first popularized by GE and others in the 1970s, ...
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