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5 Warning signs that predict business execution failure
29-Oct-2009
Would it bother you to find out that 80% of your staff is betting against your success?
A recent article in BusinessWeek
reported that more than 80% of staff said their company had an
initiative underway that they believed was likely to fail. Research
also shows that in the USA failure rates for projects range from 66% to
91% - costing companies billions of dollars each year.
Whether
you're building a new warehouse, launching a new product, or adding
vegetarian options to your menu – it seems that most companies still
have trouble with “execution”.
5 warning signs that predict business execution failure:
Failure to confront reality
Poor
strategic planning dooms execution from the beginning. The blame lies
with leaders who fail to use a disciplined strategic thinking and
decision making process to identify the key action priorities - or who
then set unrealistic deadlines or budgets. Staff will fail to execute
when they feel pressured to commit to priorities they don’t agree with
- or where the expectations are unrealistic.
Lack of trust
In
this toxic environment, staff are too scared to speak their mind and
provide input to the decision making process, or voice their
disagreement - for fear of being treated poorly by the leaders. Once
an initiative is underway they fail to report problems - and focus on
covering their backsides rather than taking responsibility. If your
staff are too scared to speak up, who has made them feel that way?
Power politics
Instead
of using inviting people to passionately debate all the options – some
leaders use their influence to drive their own personal interests and
pet projects. Getting staff to buy in and effectively execute in this
scenario is highly unlikely.
Wrong people on the bus
Execution
is hobbled by staff who lack the competencies needed to deliver the
required standard of performance - or by staff whose behaviors are not
aligned with the company’s core values. Using an effective hiring
process like Top Grading would help prevent this problem.
Lack of an effective “execution system”
Leaders
who don’t have an effective “execution system” to drive execution and
track progress, who fail to provide proper guidance and support, and
who fail to hold staff accountable for implementing key action steps
every week – can expect their staff to become quickly disengaged.
Chief Operating Officer - Global Operations
RESULTS.com
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