We know a great deal about what strategy is, but very little about how to make strategy work, write Donald Sull, Rebecca Homkes and Charles Sull for Harvard Business Review.
Strategy execution matters to leaders – in a recent study CEOs named it their number-one concern. But it’s notoriously difficult to achieve – almost three-quarters of large organisations struggle to implement their strategies, say the authors.
Sull, Homkes and Sull are engaged in a large-scale research project into “how complex organisations can execute their strategies more effectively”. Their most important insight so far is that “several widely held beliefs about how to implement strategy are just plain wrong”.