In 1999, a Fortune magazine study suggested that 70 percent of CEOs who fail do so not because of bad strategy, but because of bad execution.
In today’s fast paced world, strategic planning is critical. It is akin to the guidance system on an airplane; if not programmed to reach its destination, it cannot keep the plane on course in rough weather. A pilot has to log his destination and flight plan, get clearance from the tower, check the meteorological conditions and plan accordingly, check the aircraft and deliver a smooth flight for passengers and cargo, and then land safely. Everything has to work exactly to reach the destination safely and can only be done by the pilot and crew performing many interim checks to make sure they are on track. That is strategy and implementation in perfect harmony.
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