{"id":33200,"date":"2018-07-09T15:04:42","date_gmt":"2018-07-09T19:04:42","guid":{"rendered":"https:\/\/balancedscorecard.org\/staging\/?p=33200"},"modified":"2022-08-23T10:49:34","modified_gmt":"2022-08-23T14:49:34","slug":"why-strategic-planning-fails-part-6","status":"publish","type":"post","link":"https:\/\/balancedscorecard.org\/staging\/blog\/why-strategic-planning-fails-part-6\/","title":{"rendered":"Why Strategic Planning Fails &#8211; Part 6"},"content":{"rendered":"<h3><span style=\"color: #1d5878;\">Executing the strategic initiatives effectively<\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-33203\" src=\"https:\/\/balancedscorecard.org\/staging\/wp-content\/uploads\/2018\/08\/Project-management-team-updating-schedule_500x333-300x200.png\" alt=\"\" width=\"300\" height=\"200\" \/>This is the sixth installment in a blog series that discusses potential pitfalls that could hold you back from being fully successful in your strategic planning efforts.\u00a0\u00a0The first was ensuring that you have full leadership support before you begin the strategic planning initiative, the second was generating needed buy-in across the organization, the third was making sure you build that strategy in a way that it can be executed effectively, the fourth was prioritizing to narrow your focus and the fifth was integrating the strategy into how you do business.\u00a0\u00a0As I started the first blog\u00a0of the series, most things that I have been successful at in my life have been because I did it the right way and using the right tools.\u00a0\u00a0At the Balanced Scorecard Institute, we have the \u201c<a href=\"https:\/\/balancedscorecard.org\/staging\/about\/nine-steps\/\">Nine-Step Process<\/a>\u201d to building a strategic management system.\u00a0\u00a0We believe in this approach and we have helped hundreds of clients develop comprehensive strategic plans with a management system that enables them to effectively execute strategy.\u00a0\u00a0I myself have worked with over 80 organizations and have seen very successful strategic planning efforts and also those that were less so!\u00a0\u00a0I wanted to share some observations as to where those that were not as successful went wrong along the way.<\/p>\n<p>The sixth pitfall is in not executing the strategic initiatives effectively.\u00a0\u00a0When you boil strategy down, it really ends up being a tool to help you understand what things you need to start doing today to build the organization of the future so it can be successful, given how you assume the world will be different.\u00a0\u00a0That said, it is only the accomplishment of these \u201cthings\u201d or key initiatives that really makes an organization successful.\u00a0\u00a0As such, the successful execution of these initiatives becomes fundamentally important for achieving the vision of the organization.\u00a0\u00a0By having a sound project management office (PMO) system with skilled project managers driving the initiatives to execution, you will be setting the course for successful strategy execution.\u00a0\u00a0Given that leadership attention to objective measures and their link to key initiatives provides focus and attention needed to implement the plan, the management system must ensure an effective process for measuring and monitoring results and tracking the progress of initiative execution is in place.\u00a0\u00a0With an effective system for managing and driving initiatives, the leadership team will have the information it needs to effectively direct the organization\u2019s strategy.<\/p>\n<p>If this pitfall sounds familiar,\u00a0<a href=\"https:\/\/balancedscorecard.org\/staging\/contact-us\/\">contact us<\/a>.\u00a0We specialize in helping organizations prioritize projects &amp; initiatives. Or\u00a0check out our\u00a0<a href=\"https:\/\/strategymanage.com\/solutions\/strategic-project-management\/\">Strategic Initiative Management<\/a>\u00a0Course. This program focuses on the project management skills needed to effectively manage strategic initiatives end-to-end.<\/p>\n<p>There is one more blog that will complete this series of potential pitfalls that could hold organizations back from realizing the many benefits to developing a strategy and a supporting strategic management system.<\/p>\n<p>Missed Part 5 of the blog series? You can read it\u00a0<a href=\"https:\/\/balancedscorecard.org\/staging\/why-strategic-planning-fails-part-5\/\">here<\/a>.\u00a0 You can read Part 7\u00a0<a href=\"https:\/\/balancedscorecard.org\/staging\/why-strategic-planning-fails-part-7\/\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The sixth pitfall is in not executing the strategic initiatives effectively.<\/p>\n","protected":false},"author":8,"featured_media":33203,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[25,23],"class_list":["post-33200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-strategic-planning","tag-strategy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.13 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why Strategic Planning Fails - Part 6 - Balanced Scorecard Institute<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/balancedscorecard.org\/staging\/blog\/why-strategic-planning-fails-part-6\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Strategic Planning Fails - Part 6\" \/>\n<meta property=\"og:description\" content=\"The sixth pitfall is in not executing the strategic initiatives effectively.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/balancedscorecard.org\/staging\/blog\/why-strategic-planning-fails-part-6\/\" \/>\n<meta property=\"og:site_name\" content=\"Balanced Scorecard Institute\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/StrategyManagementGroup\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-09T19:04:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-23T14:49:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/balancedscorecard.org\/staging\/wp-content\/uploads\/2018\/08\/Project-management-team-updating-schedule_500x333.png\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"333\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Tim Johnson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@BSCInstitute\" \/>\n<meta name=\"twitter:site\" content=\"@BSCInstitute\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tim Johnson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/balancedscorecard.org\/staging\/blog\/why-strategic-planning-fails-part-6\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/balancedscorecard.org\/staging\/blog\/why-strategic-planning-fails-part-6\/\"},\"author\":{\"name\":\"Tim Johnson\",\"@id\":\"https:\/\/balancedscorecard.org\/staging\/#\/schema\/person\/f9cf779ef00cb3fd114bd533ae8ca20d\"},\"headline\":\"Why Strategic Planning Fails &#8211; 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