Lack of Accountability and Poor Implementation
Those involved in business planning say that the biggest barrier to success is the plan's execution, says Grensing-Pophal. Many plans are developed and then left to languish on a shelf or hard drive someplace. Instead, businesses are wise to assign specific tasks to specific individuals and to schedule regular reporting periods in order to review results. When results do not meet plan expectations, the responsible party should be asked to provide an explanation and a plan to get the process back on track.