Less confidence about corporate strategies

In a Booz & Company survey conducted in December 2013, executives from around the world, 60% were not able to say affirmatively that their companies’ strategy would lead to success, as of the end of 2013.

Three years ago, 52% expressed this lack of confidence in their company strategy. The survey, overall, has involved 3,855 participants since 2010. It is not clear whether the dip in executives’ faith in their strategy is related to the external environment, or other factors. It appears that business leaders have a range of frustrations, most relating to the clarity and focus of their strategy. In fact, most leaders – 66% – said “having too many priorities” is a major point of frustration for their organizations management team.

The survey shows…

  • More than half of executives (51%) said that communicating the company’s strategy and getting buy-in for it is a significant challenge at their company.
  • 55% said ensuring day-to-day decisions are in line with the strategy is a significant challenge.
  • 56% said allocating resources in a way that really supports the strategy represents a big challenge.

And 54% said quickly translating strategic and operational decisions into action is a challenge.  With the faster pace and ever changing business climates today, this survey reflects that companies are struggling with developing and executing a winning strategy.

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