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Why do Companies Fail with their Business Strategies?
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 Strategic planning is an integral part of any growing business. However, not all companies implement their business strategies successfully. Most companies achieve only partial success in the implementation of their strategies, even if the strategies were rock solid. There are several reasons why this occurs. Understanding these reasons will help you achieve complete success in implementing the strategies that are important for the overall success of your business.

Here are some of the main reasons why strategies fail:
 
- No focus: For any strategy to be implemented successfully, it is important to talk about the vision and purpose behind implementing it. However, companies these days often create business strategies that do not reflect any disciplined planning or decision making process. On the contrary, companies only try and compete on various aspects like innovation, efficiency and personal service. Focusing on exactly stating your strategy in simple and understandable terms is important for its successful implementation.
 
- Lack of communication: Even where the employers have successful strategies planned for the future, their implementation can be quite difficult, if not communicated to the employees in the correct manner. All employees must have proper knowledge of the top priorities of the company, if they have to work towards achieving them successfully.
 
- Change is the key: When arriving at business strategies, often the onus lies on the people at the apex of the management, who spend hours in discussion. However, despite these long talks, not all these people are totally aware of the expectations. Therefore, you will see some resistance to change, even after being committed towards implementation of these strategies. These can be ironed out by proper communication of expectations in the future from the leadership and ensuring complete commitment for the same.
 
- Tracking performance regularly: Much of the failure in implementing strategies is due to the inadequacy in tracking performance regularly. Most companies fail to compare actual achievements with respect to the planned ones. By failing to do so, they are not really aware of how the strategies are being implemented, which often leads to failure.
 
- Aligning incentives to strategy: Often business strategies fail because they are not properly linked to the incentives given to the employees for their performance. Much of the success of strategies depends on how well the employees actually perform. And if their performance is not acknowledged and rewarded, it often leads to employees not appreciating the link between the two and in turn, not doing their best. Therefore, it is important to reward employees adequately for performance, when implementing newer strategies.
 
- Long term strategy planning: Most companies fail to implement strategies successfully because they believe it to be a one-time agenda. On the contrary, strategies are long term and often an ongoing process, which if understood correctly, will enable more successful implementation. Apart from constantly evaluating the implementation process, it is necessary to evaluate the strategies themselves and make any modifications, where required. This will not only help in successful implementation of the strategies but also ensure better growth and prospects for the company.
 
So, if you want to implement business strategies in your company, these are some of the factors that you should consider to ensure that your implementation is successful.
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