In today’s competitive environment, getting your strategy right has never been more important. Yet research shows that most companies fail to execute strategy successfully. Cedar offers a roadmap to reverse this trend. The Balanced Scorecard is a tool that reveals gaps between vision and action. Unearth these gaps in your organization.
Here are some cold hard statistics: fewer than 10% of effectively formulated strategies are successfully implemented. A fortune cover story on failures concluded that in about 70% of the cases the real problem was not bad strategy but bad execution.
In India, we estimate the failure rate of the best strategies to be between 70% and 90%.
Most management systems revolve around a budget. The question “Is this within this year’s budget.” is more often heard than “Is this in our strategic plan?” Organizations often give up activities as the year goes by if the budget needs to be pruned, without realizing that some of those activities may be crucial to reach strategic objectives.