"Most companies' strategies deliver only 63% of their promised financial value," write Michael C. Mankins and Richard Steele of Marakon Associates. Few in retail banking would dispute that finding. "Between the plan and the execution sits a yawning gap – and an increasingly serious problem for retail banking institutions," write Paul McAdam and Ajay Nagarkatte of Bank Administration Institute.
What has gone wrong? We would answer: The middle is missing. Between the executives devising the strategy and the front line trying to deploy it are the vast ranks of middle managers whose job it is to….well, just what IS their job?
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