Läget för strategiskt arbete: Omfamna osäkerhet för att möjliggöra snabb anpassing

Can your organization adapt quickly in today’s volatile environment?

Do specific practices and mindsets make companies inherently better able to adapt to change quickly?

To find out how some companies accelerate innovation and thrive as business fluctuations occur, while others “get by,” Planview commissioned a global benchmark study in December 2020 to assess how organizations are adapting to change in uncertainty.

The findings and insights are revealed in the report – “The State of Strategy Execution: Embracing Uncertainty to Adapt at Speed“.

Nearly 1000 business professionals from across the globe rated their organization’s responsiveness in terms of ‘how fast’ and ‘quality of outcomes’ in each of the five core areas of adapting strategy execution:

Pivoting strategies and plans
Reallocating funding and budgets
Reprioritizing work execution and delivery
Realigning people and teams
Accessing and analyzing data for decision making

By creating agility within and across each interconnected area of strategy execution, companies can move faster and adapt with confidence when disruptions happen, or new opportunities appear.

5 key findings were revealed – read on to learn more about highlights from the study.

The Strategy Execution Index: Quickness + Quality in Adapting to Change

Based on quickness and quality ratings across the five strategy-to-execution process areas, respondents were assigned a Strategy Execution Index score and categorized as:

Strategy Execution Laggards – Slower to respond to change and, at times, struggle to move forward
Strategy Execution Challengers – Moving forward, but in starts and stops, unable to perform at speed consistently
Strategy Execution Leaders – The fastest organizations with the highest quality outcomes

Leaders are driving speed across strategy-to-execution, outperforming the rest. Challengers and laggards have a choice: prioritize speed or risk losing customers and falling behind swifter competitors.

Research categorized Strategy Execution Laggards, Challengers, and Leaders based on scores calculated from the Strategy Execution Index.

99% of Leaders say their organization can adapt to change at speed

Leaders outperform in exceeding financial targets and strategic objectives. They also exceed in their ability to deliver new, innovative products and services.

Results show that Leaders are investing to adapt faster, while Challengers are less motivated to improve decision making and execute on-strategy at speed.

Strategy Execution Leaders are:

3x
more likely than Challengers to
exceed financial targets
3x
more likely than Challengers to
exceed strategic objectives
2x
more likely than Challengers to
exceed delivery of innovative products and services

Strategy Execution Leaders achieve better results at speed outperforming their counterparts in on-strategy and on-time delivery.

89% of Leaders say their organizations plan to improve speed in adapting to change and disruption

62% of Strategy Execution Leaders, who already reported going fastest with the highest quality outcomes, stated they strongly agreed with the statement: “To ensure its success, my organization needs to make decisions and execute faster than it currently does.” (vs. 24% Challengers, 34% Laggards)

Respondents reported the following as the top three tangible benefits from investing in accelerating adaptation to change:

Improved customer satisfaction (59%; Leaders: 66%)
Improved employee satisfaction, retention, and recruiting (48%; Leaders: 56%)
Improved execution efficiency and repeatability (42%; Leaders 45%)

Strategy Execution Leaders prioritize and invest in speed to improve decision making and accelerate strategic outcomes.

Decline in growth identified as top risk of not adapting strategy execution at speed

Companies face an average of three barriers in adapting to change. Complex governance/approval processes, unclear/conflicting priorities, and lack of resources for approved projects top the list.

These risks and barriers bring pressure and hinder organizations from successfully achieving on-strategy execution.

43%
Decline in growth
43%
Lost opportunities to competitors
38%
Decreased customer retention
38%
Major loss of profit

Moving too slowly has consequences – Survey respondents identified four top risks of not adapting strategy execution at speed.

Strategy Execution Leaders are confident in on-strategy and on-time delivery

Executives are confident that teams are working on the right things, and teams are more confident that their work aligns with strategy.

These findings raise the question “What are leaders are doing differently to achieve their success?” Download the report “The State of Strategy Execution: Embracing Uncertainty to Adapt at Speed” to learn more.

Extremely
Very
Somewhat
Not Very
Not At All

Strategy Execution Leaders are more confident in on-strategy delivery than Challengers.

Download the report “The State of Strategy Execution: Embracing Uncertainty to Adapt at Speed” to learn more.

Få rapporten • Läget för strategiskt arbete: Omfamna osäkerhet för att möjliggöra snabb anpassing

More key findings from the benchmark report

Nearly 85% of companies are leveraging some form of Lean or Agile practices. Leaders are more likely to be undergoing an enterprise-wide Agile transformation.
81% say gathering and analyzing the information they need is painful. Leaders indicate accessibility is 3x less painful.
The majority of respondents reported that they are primarily using desktop or internally developed tools for planning, funding, and prioritization. 50% of Leaders will implement technology for automation and efficiency in the next year.
Discover the four practices that set Leaders apart to move faster in adapting strategy execution and improving performance.

To thrive, every organization must continuously improve, regardless of their current Strategy Execution Index score.

Download the report for insights along with specific recommendations on how you can shift mindsets, processes, and technology for accelerating on-strategy and on-time delivery.

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How does your organization compare?

Review the key findings and best practices of Strategy Execution Leaders, recommendations to accelerate on-strategy delivery, and learn how the most successful organizations are:

Creating agility within and across each interconnected area of strategy execution
Moving faster and adapting with confidence when disruptions happen, or when new opportunities appear
Adjusting their strategies and executing on their plans at speed to achieve quality outcomes for the business

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Accelerate On-Strategy Delivery at Scale with Planview

The results are clear: The disconnected mix of tools in use – primarily internally developed or point solutions – is slowing down strategy execution.

To be fast at shifting strategy but not at reprioritizing work or resources does not result in organizational speed. The five strategy execution competencies integrated with the right technology must work in concert to enable the decisions that allow your enterprise to accelerate on-strategy delivery.

What if you had a platform that gives you a clear view into your strategic initiatives and empowers your organization to deliver desired outcomes faster?

Planview’s unique platform brings together:

Ledningens siktlinje
Anpassningsbar portföljprioritering och finansiering
Flexibel kapacitets- och resursplanering
Verktyg som stärker teamen så att de kan leverera snabbare, oavsett hur de arbetar

Partner with Planview to build agility and increase responsiveness in your organization – today and into the future.

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Learn more about driving strategy to delivery

Vi presenterar

On-Strategy Delivery at Speed

Build agility and increase responsiveness in your organization – today and into the future.

5 Ways to Accelerate On-Strategy Delivery in Times of Change

Insights from the State of Strategy Execution Global Benchmark Report

Watch the demo

Solution Demonstration: Connecting Strategy to Delivery for Digital Speed

Gain a clear view into strategic initiatives and increase responsiveness

Watch the demo

Unlock Enterprise Agility: Drive Strategic Delivery for The Business

Learn how Santander drives business value and accelerates strategy for the organization

Watch the webinar

Dynamic Planning: 5 Steps to Rapidly Replan, Reprioritize, and Effectively Execute

Move with agility when changes or growth opportunities occur

Get the eBook