In my regular MBA teaching session on strategy execution, I offer 7 principles that underpin execution.  Number 1 on the list: start with a compelling strategy.  It might seem obvious, but can you, hand on heart, declare your strategy is ‘compelling’?  

Fortune magazine once reported 82% of CEO’s believed their strategic planning was effective, but only 14% were happy with execution.  Don’t believe that narrative.  Remember, 80% of us think we’re better than average drivers.  Perhaps if their strategies were better, the execution performance[1] would be much better?  McKinsey data indicates that executives increasingly recognise their companies are creating sub-standard strategies. 

So, if a compelling strategy is the foundation for great execution – which is an Achilles heel for most companies – and most companies fall short on this measure, what can we do?