Introduction: The Myth of Sequential Strategy

How many times have you heard the phrase, “First, we strategize—then we execute”?

According to David Munt, founder of GenSight and a seasoned strategist with over 35 years of experience, this traditional view about strategy execution is not just outdated—it’s fundamentally flawed.

In his groundbreaking whitepaper, “Strategy IS Execution,” Munt dismantles the myth that strategy and execution are separate phases. Instead, he argues that real strategy emerges through action, not just planning.

With over 60% of corporate strategies failing and many executives admitting they’ve “never seen a strategy that worked,” it’s clear that a new approach is needed.

This blog post dives deep into Munt’s insights, exploring:

• Why execution isn’t a follow-up to strategy—it is strategy.
• The five key principles of successful strategy realization.
• The GenSight Framework—a dynamic, seven-element model for turning strategy into reality.
• Practical tools for portfolio management, innovation, and adaptive execution.

Whether you’re a CEO, entrepreneur, or strategy leader, this guide will reshape how you think about—and act on—your business vision.

Why Traditional Strategy Fails (And What to Do Instead)

The Ford vs. Ferrari Lesson

Munt opens with a powerful analogy from the movie Le Mans 66 (Ford v Ferrari):

• Ford meticulously planned their racing strategy, built a car, and set corporate objectives. Then, CEO Henry Ford II left the track early, assuming execution would follow the plan.
• Ferrari’s Enzo Ferrari stayed deeply engaged, adapting in real-time to the race’s unfolding dynamics.

Result? Ferrari won.

This story encapsulates why most strategies fail:

“Execution doesn’t follow strategy—it IS strategy. The ‘formulation’ phase merely gets you to the start line. What you do when the race is on determines success.”

The Hard Truth About Strategy Execution Failure

• 60-90% of strategies fail to deliver expected results (depending on the study).
• Corporate veterans admit: “I’ve never seen a strategy that worked.”
• Why? Companies treat strategy as a linear, top-down cascade (plan → roadmap → execute). Reality is messy, adaptive, and emergent.

The Solution: Strategy Realization

Munt introduces “Strategy Realization”—a dynamic process where:

• Strategy emerges through action (Mintzberg’s emergent strategy).
• Innovation fuels competitive advantage.
• Portfolio management (not PowerPoint decks) drives real change.

The 5 Key Principles of Strategy Realization

Munt’s framework is built on five core principles:

1. Strategy Formulation Is Just the Start

• Planning matters, but it’s not enough.
• Reference: Kaplan & Norton’s Strategy Maps.

2. Embrace Emergent Strategy (Mintzberg)

• Successful strategy is not just the “intended strategy (that which was formulated by the board)” but also “the strategy that actually emerges in practice.”
• Example: Netflix pivoting from DVDs to streaming.

3. Innovation Is Non-Negotiable

• Genuine innovation is crucial for achieving real competitive advantage.
• Without innovation, no strategy survives long-term.
• Example: Apple’s shift from computers to ecosystem (iPhone, Services).

4. Your Portfolio = Your Real Strategy

• “Portfolio management is the core capability at the center of strategy realization.”
• “Strategy is a collection of projects.”
• The portfolio of initiatives, projects, and programs “is the embodiment of what strategy an organization is actually pursuing.”
• Portfolio management aligns resources, priorities, and execution.

5. Adapt or Die (The Formula 1 Mindset)

• Formula 1 teams constantly revise their strategy during a race, illustrating the need for continuous adaptation.
• Waterfall planning fails in complexity; agility wins.

The GenSight Strategy Realization Framework

Munt’s model is a hub-and-spoke system with seven elements:

1. Portfolio Management (The Core)

• Your project portfolio reveals your real strategy.
• Tools: Prioritization, gap analysis, risk-value tradeoffs.

2. The Innovation Process

• Classify initiatives by value streams:
  • New products, R&D, digital transformation, M&A.

3. The Strategy Map

• Two layers:
  1. Themes (e.g., “Expand into Asia”).
  2. Cascaded goals (e.g., “Hire 10 local sales reps by Q3”).

4. The Investment Model

• Financial rigor: NPV, ROI, risk-adjusted returns.
• Link project budgets to corporate P&L.

5. Project Delivery

• Agile, Stage-Gate, or Hybrid—match methods to project types.
• Example: Pharma (10-year R&D) vs. SaaS (2-week sprints).

6. Resource Management

• Supply vs. demand planning (skills, roles, budgets).
• Named vs. generic resources (e.g., freelancers, internal teams).

7. Business Intelligence

• Real-time dashboards for portfolio tracking.
• Visualizations: Bubble charts, Gantt, pipeline analytics.

Tools for Strategy Execution Mastery

1. The Innovation Funnel

• Mix processes (Agile, Stage-Gate, Six Sigma) by project type.
• Key goal: “Get the best ideas to value faster, better, cheaper.”

2. Prioritization Frameworks

• Scorecards: Balance financial vs. strategic value.
• Risk vs. Reward: Kill low-potential projects early.

3. Financial Modeling

• Pre-launch costs → Revenue tracking.
• Example: Linking a product launch delay to corporate EBITDA impact.

4. Resource Allocation Workflows

• Role-based capacity planning.
• AI tools: Predict bottlenecks before they happen.

Implementation: How to Build Your Strategy Realization Capability

Implementation Focus:

• Building strategy realization capability should be approached based on organizational maturity, prioritizing the most critical capabilities first rather than attempting to implement everything at once.

The Need for a Bolder Approach:

• Many existing Strategy Execution Management tools are considered “quite simplistic in nature,” often limited to communication tools.
• The paper advocates for a “bolder approach” to craft tools and processes that make strategic insight and action an “intrinsic part of the fabric of the enterprise.”

Step 1: Assess Maturity

• Audit current processes (e.g., “Do we have a living portfolio?”).

Step 2: Start Small

• Pilot one element (e.g., BI dashboards).

Step 3: Scale with Agility

• Avoid “big bang” rollouts.
• Example: A pharma firm testing agile R&D in one lab first.

Final Advice: Be Enzo Ferrari

• Stay engaged.
• Adapt constantly.
• Never assume the plan will survive first contact with reality.

Conclusion: Strategy Is Doing

Munt’s message is clear: Strategy isn’t a document—it’s what you do every day.

The companies that thrive—Netflix, Amazon, Ferrari—treat strategy as a dynamic, iterative process. They:

• Plan, but don’t worship the plan.
• Innovate relentlessly.
• Manage portfolios, not PowerPoints.

Recommendations:

Your turn: Audit your last strategy. Did it work? If not, it’s time to realize strategy differently.

• Review current organizational processes for strategy formulation and execution to identify areas for improvement based on the principles outlined in the whitepaper.
• Evaluate the organization’s existing tools and systems to determine if they support an integrated strategy realization approach, particularly in the areas of portfolio management, innovation, and resource management.
• Consider adopting a framework similar to the GenSight Strategy Realization Framework to better integrate strategy, innovation, and execution processes.
• Prioritize building critical capabilities based on the organization’s current maturity level.

Read full whitepaper on GenSight website or NeoForm LinkedIn page.

Need help turning strategy into action? Contact NeoForm’s experts today