Each year, business leaders complain about how strategic planning is ineffective or useless. A growing number of articles point to this problem. Strategists have become the whipping boys of the corporate executive suite. Despite the hours strategy teams spend on rigorous analysis, scenario modeling, market research and countless plan drafts which point out specific problem areas or new growth opportunities, when it comes time to state the strategy, business leaders cop out. They end up softening the edges. They resist being specific. They compromise because they don’t want to offend anyone or leave any group out. They don’t want to risk placing a bet and being wrong, so they bet on everything.
The result is a lowest common denominator strategic plan which sounds pleasing to everyone, but serves no one. Companies need to break the cycle. Here are five practical and actionable things business leaders can do right now to make their next strategic plan better.
Via David Hain