The survey results by Booz & Co of more than 1800 executives show that setting priorities is a significant challenge for companies — and that linking priorities to decisions is a hurdle that few companies get past.
According to the survey
- A great majority of executives (64% of survey respondents) say that their biggest frustration factor is “having too many conflicting priorities.”
- Executives report that their biggest challenges are (a) ensuring that day-to-day decisions are in line with the strategy (56%) and (b) allocating resources in a way that really supports the strategy (56%).
- Half of the executives (50%) consider setting a clear and differentiating strategy a significant challenge.
- In fact, most executives (52%) do not feel their company’s strategy will lead to success.
- Only 21% say their company has a right to win in all the markets in which it competes.
- Most executives (81%) say growth initiatives lead to waste, at least some of the time.