News from Australia’s National Newspaper.
James Carlopio, the director of Bond University’s Centre for Executive Education, says research consistently shows between 70 and 90 per cent of businesses will fail to successfully implement significant strategic change.
Mr Carlopio, a former psychologist, says the problem lies in businesses’ failure to get people to change old habits.
He said businesses often make the mistake of focusing on the technical aspects of implementation and profits instead of psychological barriers.
"Businesses will pay strategy consultants hundreds of thousands of dollars to come up with great positioning and strategy ideas, but once the paper is handed back to the company, they’re left to pick up the pieces and nine times out of 10 they will fail on implementing the strategies," he said.
So true.
