How to Execute the Chosen Strategy Effectively

Abstract

According to many studies and sources, strategy execution/implementation is much more difficult than strategy selection and 60-70% of selected strategies fail (Beer, M. and Nohria, N, 2000; Bruch, H., et al. 2005; Worley, C. G. and Lawler III, E. E., 2006). Strategy execution and implementation are used as synonyms in this article.

Therefore, ensuring and monitoring the implementation of the chosen strategies is one of the most important tasks for the boards of organizations. The information in this article is based both on Dr. Keijo Varis' more than 20 years of experience in strategic planning and strategy implementation in Finnish industrial companies and on 10 years of experience as an MBA trainer, and international research in the field. Dr. Varis spoke on this topic at the India Institute of Directors Global Conference in London on 14th November 2024 (Photo below).