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Ineffective
Strategies Hinder Growth.
Too many leaders settle for strategic
growth plans that won't work. Why? If leaders do not
understand the difference between good and bad strategies, their strategic
plans are flawed from the beginning.
Strategies that lack an understanding of
the key challenges that need to be overcome, or that have an insufficient
focus, or that take an unrealistic approach are just wishful
thinking.
The best leaders know not to settle or be
fooled by a bad strategy - one that does not represent the hard work it takes
to design and implement a good strategy.
3 Signs of a Bad
Corporate Strategy
A bad strategy is likely to be loaded with slogans and wishful thinking.
A bad strategy:
- Fails to Address the Organization's Real Problems
A bad strategy fails to address the true root causes of stalled
growth, ineffectiveness, and sub-par performance. They also tend to
underestimate unintended consequences and the inevitable time delay
between action and results.
- Tries to Do Too Much
Strategic planning should not reflect a laundry list of "to
do's" or strive for an unachievable summit. A company's strategy
should focus on the critical few attainable strategic actions that
will make the most difference. While every business can benefit
from improvements on multiple fronts, plans that are diluted,
confusing, or impractical do not work.
- Is Misaligned
Strategies that are misaligned with the company culture, or with the
people who must execute it, or with the market forces at play are just
swimming upstream. Bad strategies tend to fight the natural flow of
how work gets done and the capabilities required to be successful.
A Good Corporate
Strategy
A strategy that can be effectively
followed and that can guide an organization toward a successful future has
three fundamental elements.
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