Strategy mistakes mean that time and effort spent in strategic planning doesn’t pay-off as well as expected and can be split between strategic planning mistakes and strategy implementation mistakes.
Effective strategic planning makes a business much stronger in its dealings with:
The external environment
Unfortunately common strategy mistakes undermine the potential gains.
A classic example is when a business develops a good, detailed strategic plan which offers the opportunity to create significant competitive advantage but the management gets paranoid about keeping the plan secret, sabotaging its chances of effective implementation by depriving knowledge from those who need to know.
Yesterday I wrote about mistakes in strategic planning. But planning is the start of the strategy journey and not the end. Effective implementation is essential if you are going to be achieve your strategic goals However this is where it does get more difficult since you have to get your staff, customers and suppliers to […]
There are eight common mistakes I see in strategic planning which can be avoided but can also be fatal. The 8 Fatal Mistakes In Strategic Planning Strategic Planning Mistake 1 – Focusing on tactics not strategy. Just to be clear, strategy explains the “why”, tactics are the “what”.
I’ve deliberately written a contentious title, “Why Doesn’t Strategy Work” because I believe the opposite. When it’s done right, spending time on developing and implementing your business strategy is some of the best and well rewarded time an entrepreneur can spend. But I also have to admit that when it is done wrong, strategy doesn’t […]