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Related Experiment Videos

Turning great strategy into great performance.

Michael C Mankins1, Richard Steele

  • 1Marakon Associates,San Francisco, USA. mmankins@marakon.com

Harvard Business Review
|July 21, 2005
PubMed
Summary
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Many companies fail to achieve their strategic goals, delivering only 63% of promised financial performance. Implementing clear, simple strategies with rigorous analysis and continuous monitoring can significantly improve business execution and results.

Area of Science:

  • Business Strategy
  • Organizational Performance
  • Management Science

Background:

  • Many organizations invest heavily in strategy development but fail to achieve desired outcomes.
  • Research indicates companies typically realize only 63% of their strategic financial performance targets.

Purpose of the Study:

  • To present research findings on the strategy-to-performance gap.
  • To establish actionable rules for effective strategy setting and execution.

Main Methods:

  • Analysis of research by Marakon Associates.
  • Drawing on experience with high-performing companies.
  • Identifying key principles for strategy development and implementation.

Main Results:

Related Experiment Videos

  • Companies often struggle with strategy execution, achieving less than expected financial results.
  • Key success factors include simplicity, concrete goals, assumption-based planning, rigorous analysis, early resource discussion, clear priorities, continuous monitoring, and capability development.

    • Conclusions:

    • Adhering to specific rules for strategy development and execution can significantly narrow the gap between strategic intent and actual performance.
    • Focusing on simplicity, clear communication, robust analysis, and adaptive management is crucial for success.