It is one thing to have a strategy but quite another to execute it. I have yet to see a company that has any (forget a robust one) mechanism to even attempt to do so. Most companies - and most of the companies I have consulted at are fairly big and household names at times - are still struggling at "One Version of Truth" holy grail! That is the first step.. just to get the right and consistent information and then you need to tie in the strategy-to-operations linkages through that information platform! Here are some interesting results from a study by American Management Association and Human Resource Institute as reported by Business Finance Magazine Newsletter.
The survey found that only 3 percent of executives think their company is very successful at executing on its strategies, while 62 percent think it's only moderately successful -- or worse. The study of more than 1,500 business and HR managers around the world gauged participants' ability to execute on strategy by both asking them to rate their success and asking how much they use and value 57 strategy-implementation practices. While many respondents indicated that they are skilled at developing strategies, few seem to excel at implementing those plans. Those that do excel are differentiated by placing more emphasis on clear strategy, clear goals, and clear focus than do poor performers.
Perhaps the need for clarity explains the findings of a different survey. This study of 240 risk management professionals from 47 countries, conducted by the nonprofit Professional Risk Managers' International Association (PRMIA), reveals that risk-adjusted performance measures have reached a new level of popularity. Nearly ninety percent of PRMIA respondents said their organization currently uses some risk-adjusted performance measures, or else intends to use them within three years. These metrics are most popular in the insurance and banking sectors (not surprisingly), and their use is expected to grow most rapidly in the Asia/Pacific region.
Powered by Qumana
the information of this post is very relevant
for what i am looking for, thank you so much for sharing this one
Posted by: ferragamo shoes | March 15, 2011 at 06:02 PM