3 WAYS TO CLOSE THE GAP BETWEEN STRATEGIC PLANNING AND EXECUTION
By: Drew Yancy, Ph.D. Partner, InCite Performance Group
For too long, businesses have separated strategic planning from strategic execution - but they need both to succeed. Nearly 60% of organizations struggle to bridge the gap between strategic planning and execution, according to a study by the Economist Intelligence Unit. For too long, businesses have separated strategic planning from strategic execution—but they need both. After all, we are rewarded based on the strategy we actually execute, not the one we planned to.
1) Expand the vision of strategy. Most agencies operate on a very narrow definition of strategy. Historically, they have focused their strategic planning efforts on incremental improvements to current offerings, not on fundamental new value creation. In a pre-COVID-19 world, with stable industries and in-person work environments, this made relative sense.
Often, executives neglect to bake execution into the very beginning of the strategic planning process. Here are three steps agency leaders can take now to help rectify this:
No longer. Our traditional ways of operating have been disrupted and clients and prospects are increasingly looking to their insurance agent to
