Business & Leadership Insights
Our latest thinking on the issues that matter most in organisations.
According to research outlined in the Harvard Business Review , 85% of executive leadership teams spend less than one hour per month discussing strategy and 50% spend no time at all. The research also reveals that, on average, 95% of a company’s employees don’t understand its strategy. It’s no wonder, then, that 90 percent of businesses fail to meet their strategic targets. What sets successful companies apart is that they have a coherent strategy. They also have mechanisms to ensure that all their stakeholders (employees, suppliers, etc.) live the strategy every day. They carry it all the way through every aspect of their execution. Bottom line, execution without strategy is aimless!
It’s often said that to lead is to choose. Yet, we often find that CEOs and other senior executives need help prioritising the initiatives that will help a company transform.
For example, a major financial services institution needed to transform its cost base. We discovered that poor prioritisation meant more than 100 initiatives were underway. Most projects were too small to make any meaningful difference. Others existed only on a spreadsheet; no resources had been allocated.
A failure to prioritise is a failure of the organisation. Senior executives must recognise that and seize the lead, championing an organisation-level response for change. Then, they should ensure that all managers—starting with themselves—become effective at choosing.
The road is littered with failed transformation programmes that were set up in the traditional way: Leaders define objectives, design a project plan, agree on KPIs, and recruit the right people. As many executives, academics, and consultants can relate to, the rate of failure in transformations is still far too high, and one that organisations can ill afford in these disruptive times.
In order for transformation to be successful, leaders must approach it in ways designed to mitigate emotional harm to — and drive emotional commitment from — employees.
As you may have heard, the robots are coming.
Intelligent and skilled, a new generation of machines is poised to forever change the way we work (or don’t, if you’re one of the 85 million people projected to lose your job to Artificial Intelligence (AI) by 2025.)
In 2023, the pace of change seems to have accelerated even more, with tools like DALL-E and ChatGPT going from niche curiosities for nerds to household names in a matter of months. It’s enough to leave any leader a bit disoriented – and concerned – about how they might fit into this brave new world.
When it comes to business, an organisational strategy means much more than a plan for a better future. If implemented correctly, an organisational strategy perfectly represents the organisation's resources, capabilities, vision and mission, and direction for its manageable future. Today, let's have an in-depth look into the concept of organisational strategy and its diverse types at workplaces.
Gestaldt Consultants, Partners and Thought Leaders.
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