In a survey of 163 CEOs by Forbes Insights in conjunction with the Association for Strategic Planning and the Council of Public Relations Firms, chief executives report that one-third of corporate strategies fail, and they fail for five reasons.
The five reasons why strategies fail are:
- Unforeseen external circumstances (24 percent).
- A lack of understanding among those involved in developing the strategy and what they need to do to make it successful (19 percent).
- The strategy itself is flawed (18 percent).
- There is a poor match between the strategy and the core competencies of the organization (16 percent).
- There is a lack of accountability or of holding the team responsible (13 percent).
The whitepaper, “The Powerful Convergence of Strategy, Leadership and Communications” can be downloaded here.