Specialised knowledge and high-level leadership skills are vital to strategic planning. Many executives lack the basic smarts to conduct adequate strategic planning. As a result, many companies' strategic plans are doomed to failure because of poor implementation.
More than 50 per cent of strategic plans are not fully implemented due to poor project management, underlining the need for greater project-based expertise. In a nutshell, executives who are good at project management are good at implementing change initiatives.
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