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When a company underperforms relative to its projections, does the blame lie with the company’s performance or in unrealistic projections? This is the question answered in Successful Strategy Execution by business writer and lecturer Michel Syrett.
Using examples from various industries, Syrett runs through core concepts of execution strategies (including innovation) and shows how performances are rarely compared to long-term plans.
Syrrett’s book features both the listenability of a work of journalism and the substance of an academic paper. Narrator Gordon Griffin gives a crisp reading with his natural English accent.
Strategy-to-performance gaps foster a culture of under-performance. Unrealistic plans create the expectation throughout the organisation that plans simply will not be fulfilled. This book shows how to overcome such failings and implement strategy effectively.
Common failings include: Companies rarely track their performance against long-term plans - less than 15% of companies make it a regular practice to go back and compare the business' results with the performance forecast for each business unit in its prior years' strategic results. Results rarely meet projections - when companies do track performance, it rarely matches the prior years' projection. The consequence is year-after-year of under-performance relative to the original plan. A lot of value is lost in translation - a combination of poor communications, misapplied resources, limited accountability and lack of information creates an in-built strategy-to-performance gap.