THE STRATEGY PROCESS
Strategy execution remains one of the most difficult managerial tasks, with only about 10% of organizations successfully implementing their strategic plans. Ineffective strategy execution is due to, inter alia, inadequate understanding of the strategy process and therefore strategic plans that are not robustly crafted; visions that are understood and interpreted differently by various actors in the strategy execution process; underestimating resource commitments for strategy execution; structures and competences that are not aligned to the strategy and review meetings and retreats that are incongruent with strategic ideals. It is easy to say that the strategy process is about analysis, formulation, execution, evaluation and control. This is the strategy ‘’black box’’, but what is contained therein? How do we fit the ingredients into the strategic plan? What are the red flags and critical success factors?