Adapt and Innovate: Why companies need to embrace failure to flourish.
The COVID-19 pandemic taught us a lot, not least how quickly a three- or five-year strategy can become redundant. We witnessed the unfortunate demise of thousands of businesses as long-term plans came to naught. However, a good number demonstrated tremendous resiliency principally by changing what they identified as their core indicators of success.
Closing the gap between strategy and execution
Worldwide, only 10% of businesses effectively implement their corporate strategies, which leaves a staggering 90% that never make it past the planning stage. Why? What’s going wrong? What’s causing the gap between strategy and execution?