Why do companies fail to execute against their strategy? Key reasons include a 1) a lack of a specific implementation plan with clear owners, milestones, and KPIs, 2) a knowledge gap between the strategy and implementation teams, 3) politics that create the illusion of a zero-sum game, 4) an unwillingness to take risks in the spirit of self-preservation and 5) being bound by conventional, outdated thinking. Companies who fall victim to one or more of these issues often end up mortgaging away their future. There are a number of ways to solve for these issues, but here are a few steps to help you begin to bridge the strategy-execution gap...
Sustaining profitable growth over the long-term is challenging in both product and service markets. Why? Because, over the long-term, markets move towards commoditization as the “best” products and services gain traction and individual competitors do their best to mimic the clear front-runners. As they look to shake off stagnation or actual declines in their share, companies face two choices. The first is competing on price. The second is pursuit of additional clear points of differentiation....
Diageo, the world’s largest producer of spirits and a major player in beer and wine, continues to showcase its ability to not just target and establish strong positions in new markets but to invest in ways that allow it to dominate them. Guinness Nigeria’s Orijin brand is a prime example.
Over the years, Diageo seeded Nigeria and Africa, more broadly, with many of their well-known global brands. But, true to what they have done in other markets and categories, Diageo also knew that, to win, they needed to continue to invest in the market with an offering uniquely suited for this region of the world...
The economic story of Africa is poised to change with much larger economies now possible and a prolonged growth phase following in its wake. This creates substantial opportunity for western multinationals. But to take advantage of that growth, you have to begin moving now if you haven’t already. And that movement has to be meaningful in nature and scope, as well as de-risked to the best of your ability. Those who are late to the game or who fail to invest in a substantive and focused way create a different risk – low focus and underinvestment never creates leadership and playing catch-up once you’ve fallen behind in emerging markets remains extremely difficult...
