LONDON, Jan. 02, 2018 (GLOBE NEWSWIRE) -- According to Project Management Institute's 2017 survey, for every $1bn invested in business projects, $97m is wasted due to poor implementation. When this figure is scaled up to encompass total global capital investment, around $1m is wasted every 20 seconds - or $2trn every year.
This huge misuse of resources not only causes a loss of profits for private companies, it also hampers progress for government institutions and not-for-profit organisations.
The challenge of turning strategic objectives into practical day-to-day implementation may be widespread, but it is at least being recognised by businesses.
A Brightline survey carried out in partnership with the Economist Intelligence Unit found that 53 percent of executive leaders believe that a failure to deliver on strategic objectives puts them at a competitive disadvantage. And yet, astonishingly, just one in 10 organisations is able to deliver on all of its strategic goals.
Closing the strategy-implementation gap can seem like an impossible task, particularly as there could be multiple obstacles that need to be overcome. This is why many organisations are seeking support from the Brightline Initiative, a non-commercial coalition dedicated to helping leaders turn good strategies into great results.
By focusing on three core areas (Thought and Practice Leadership, Capability Building, and Networking), Brightline is helping leaders based in a broad spectrum of industries to achieve more effective strategic implementation.
The company's 10 guiding principles, cutting-edge research and partnerships with leading organisations like TED and Thinkers50 provide businesses with the support they need to take strategy off the page and execute it in the workplace.
There will never be enough capital, people and operational capacity to properly resource all projects. With financial and temporal resources scarce, it is imperative that organisations have the ability to prioritise where key resources will be invested and allocated. By reducing the amount of time, money and energy wasted during strategic implementation, Brightline empowers leaders to turn ideas into action.
To find out more about the Brightline Initiative and how it helps organisations to bridge the gap between strategy design and delivery, check out a Q&A with Executive Director Ricardo Viana Vargas in the latest edition of European CEO, available in print, on tablet and online now.
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