Bridging the gap between strategy formulation and execution | MORNING AT NTV
Many organizations prioritize project success but often neglect strategic success. Shockingly, one study found that 85% of leadership teams dedicate less than one hour per month to strategy, and 50% do not devote any time to it at all. This lack of focus on strategy is also reflected in the fact that less than 5% of employees have a basic understanding of their company's strategy. A recent article in The Economist, sponsored by the Project Management Institute (PMI), reports that 61% of executives admit that their firms struggle to bridge the gap between strategy formulation and execution. To address this issue and discover the reasons behind failed strategies, we turn to Pepe Minambo, an organizational culture and strategy consultant.