Some Follow Through facts you must have:
1- Half of all a company's strategies will fail in 24 months or less
2- Because two-thirds of all managers follow-through using tactics prone to fail
3- Only 1 out of 10 companies have the tools to address this critical breakdown
Why does only one in ten have the tools?
A research group asked over a thousand executives, "Does your organization keep, and/or share information on how successful decisions were made or how bad decisions were arrived at?"
They understood that to help managers make better decisions you need to trace the steps in every decision and track if those steps led to a good or bad outcome. In other words, make it possible for decision makers to learn from mistakes and learn from successes in their own unique organizations.
But ninety per cent of the executives surveyed said "No.� Their organization didn�t track or share information on the best practices in the decision manufacturing process. Only one in ten did.
As a result, managers make "erroneous associations between their tactics and their results… and continue using [tactics] with poor track records." (That�s a big reason why two-thirds of managers use tactics prone to fail and why half of all strategies will slip through the cracks.)
BTW – I didn't pull that 50% figure out of my hat.
Researchers from Ohio State's Fisher College of Business studied hundreds of decisions in marketing, purchasing, product development, human resources, and manufacturing over two decades. They watched as managers recognized the need for changes and continued monitoring as leadership gathered the facts, mulled over their options, and set their decisions in motion. The scholars then graded each organization using just one measure; did they follow through for at least 24 months or did their initiative slip through the cracks?
Their conclusion was that "half of all initiatives" fail to make it from the strategy session to the front-lines or fall through the cracks in under 24 months.
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