Don’t Lead by Example
To guide an organization through the execution of its strategy, leaders… don’t lead by example.
In strategy execution, leaders are responsible for driving the strategy forward and championing the direction the organization is heading. This involves, for example, reviewing progress, coaching people, resolving issues, and ensuring the right outcomes are being achieved. Leaders don’t lead by example as they don’t implement strategy; their employees do.
Before you even start your strategy execution, the odds are stacked against you as more fail than succeed. I have seen from my seventeen years consulting in this field that leaders are guilty of delegating the execution and not paying adequate attention to it. When leaders do this, their people also stop paying attention to it. McKinsey & Company stated that, “Half of all efforts to transform organization performance fail either because leaders don’t act as role models for change or because people in the organization defend the status quo.”
Show Confidence in the Strategy
If leaders perceive execution as an interruption to the business, they will not drive and champion it.
Anything short of embracing a new strategy and its execution by leaders can be seen by employees as a lack of confidence in the strategy itself. That feeling will spread throughout the organization.
- If you only apply lip service to the execution without championing it, employees will sense the lack of commitment and not step up; the execution will fail.
- If you don’t create the time to oversee the implementation journey, change the agenda and explain why the organization needs to transform, then employees will sense the lack of commitment and not step up; the execution will fail.
- If you don’t set the strategy and create the budget to allocate required funding, employees will sense the lack of commitment and not step up; the execution will fail.
Booz and Co. Survey: 53% don’t believe their company’s strategy will lead to success.
A key question to consider is: “What are you willing to do to execute your organization’s strategy?”
In contrast, strategy execution progresses when leaders support their comments with time and actions. Because only so much can go on a leader’s radar, he or she has to carefully select which actions will best drive the execution forward and where to invest their time.
Booz & Company surveyed executives from around the world on the results of their organizations’ strategic initiatives. Given more than 2,350 responses, the findings suggest a high degree of disillusionment, including:
- Two-thirds (67%) say their company’s capabilities do not fully support the company’s own strategy and the way it creates value in the market.
- Only one in five executives (21%) thinks the company has a “right to win” in all the markets it competes in.
- Most of the respondents (53%) don’t believe their company’s strategy would lead to success.
If leaders don’t believe in the strategy, they will never be authentic and sincere in executing it.
PWC Survey: 55% of CEO’s state lack of trust is a major threat to growth.