Why Strategic Plans Fail — and How to Make Sure Yours Doesn’t
May 7, 2025
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4 minute read – Many financial institutions invest heavily in strategic planning—gathering data, hosting retreats, and crafting the perfect vision for the future. But all too often, the best-laid plans get stuck in neutral during implementation.
Why? Strategic planning and strategic implementation are two very different disciplines. Planning is about setting direction; implementation is about making it real. We’ve seen time and again that the real test of strategy isn’t how inspiring the plan sounds—it’s how effectively it gets executed.
Planning Gets the Glory. Execution Gets the Results.
Strategic implementation is where your organization’s high-level direction gets translated into reality. It’s where culture, clarity, and alignment either come to life—or fall apart.
We’ve identified 7 common missteps that get in the way of effective strategic execution. The good news? Each one is avoidable.
- Failing to Elevate Implementation
Too often, strategic planning is seen as the “important” part, while implementation is treated as the follow-up. But execution deserves the same level of rigor, attention, and leadership as planning itself.
- Lack of Clarity
Ask yourself: What are we really trying to accomplish? Vague goals like “improve account opening” won’t cut it. Clear, specific objectives—like “reduce account opening time to under 15 minutes for 80% of new customers”—are essential for alignment and action.
- Not Asking the Big Question
Before committing to a project, ask: Will our strategy fail or be materially set back if we don’t do this? Strategic focus requires saying “no” more than “yes.”
As Warren Buffett famously said, “Really successful people say no to almost everything.”
- Ineffective Strategic Progress Meetings
These meetings should ensure the strategy is advancing—not become bloated updates on every project. Keep them high-level. Focus on removing roadblocks, reallocating resources, and keeping priorities sharp.
- Assuming Clarity Is One-and-Done
Clarity doesn’t last forever. It takes continuous effort to keep strategic objectives front and center as day-to-day pressures mount.
As we often remind our clients: Clarity once is not clarity forever.
- Weak Resource Planning
Successful execution starts with knowing what your people can realistically handle. Start simple—go for “roughly right”—and account for known draws on time and energy. Tools like heat mapping help start valuable conversations about capacity and prioritization.
- Skipping Strategic Implementation Assessments
Assess your ability to execute—before you begin. Ask:
- Are we clear on our culture, resource allocation, and project oversight?
- Is project management truly driven by strategy?
Small course corrections early on can prevent major derailments later.
It’s Not Just About Managing Projects. It’s About Leading Through Strategy.
At the heart of successful strategic implementation is leadership. The kind that welcomes tough questions, values accountability, and ensures alignment from the C-suite to the front lines.
As Cliff Myers once said, “I do not fear hard questions and I do not fear hard answers. I fear being blindsided by issues I didn’t even know about.”
*Portions of this blog were edited with the assistance of AI.
