Last modified: 2019-08-02
Abstract
This paper is designed to inundate policymakers, scholars and readers alike on the overwhelming importance of the concept of strategy execution in all fields of human endeavour and unveil the issues militating against effective strategy execution among companies operating in Nigeria using a particular bank as a case study. Strategy execution is germane in corporate organisations because its success or failure rate may have a significant effect on the success and sustainability of their business. However, the success of strategy execution is not assured. It is on record that strategy execution has an unsatisfying low success rate in most Nigerian companies. This paper is also interested in creating a greater understanding of why strategy execution so often than not fails in Nigerian companies and how such companies can succeed in swimming out of these murky waters of failure and leverage on continuous successful strategy execution. The paper adopted a case study where primary data was gathered using the interview guide. Data obtained from the interview were analyzed qualitatively to derive findings, conclusions and recommendations. Findings reveal that human resource issues can be a cog in the wheel of strategy execution among Nigerian companies. Empirical evidence from this inquiry reveals that the reasons behind strategy execution failure among corporate organizations in Nigeria include; weak Communication, Inadequate monitoring, insufficient senior leadership, inadequate skill, insufficient details, no approved strategy, poor accountability, limited reward and consequences system, leadership style as well as conflicting priorities. However, there is a need for organizations to put measures in place to ensure improved communication at levels, improved strategy development, reward system, performance monitoring, accountability and goal re-assessment where necessary. The measures as mentioned above will aid the process of bridging the gaps in the overall performance of the organization.
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