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Why strategies fail

Why strategies fail

ResignationIt is estimated that 2 out of 3 strategic plans fail and that less than 1 in 10 are effectively executed. The statistics are indeed shocking and there are 6 main reasons for this sorry state of affairs.

  1. Poor conception: A misguided and poorly formulated strategy will never succeed. Paradoxically, the better a company’s executional capabilities, the faster the adverse consequences will be felt. Learn why competitive position is a vital consideration when determining the optimum strategy and plan for a business.
  2. Inadequate team working: Together we are cleverer than anyone of us. And so it is when it comes to developing a strategic plan. Never underestimate how important it is to involve the hearts and minds of the full management team and to secure consensus and alignment. To secure alignment each individual has to actively participate and crucially be given the opportunity to voice concerns. Once concerns are out in the open, effort can be focused on reducing those concerns. The result is always a better plan. Securing alignment can be torturous at times, but it is worth investing the necessary time and effort.
  3. Ignoring the other 6S’s: Strategy is but one of the 7S’s that a business has to consider if it is serious about stepping up its performance and playing at the top of its game.
  4. Inadequate implementation planning: However brilliantly conceived, a strategy’s ability to succeed hinges critically on the capabilities of an organisation to implement it with commitment, passion and pace. Implementation planning provides an opportunity to involve experts lower down the organisation and thus secure their buy-in. It’s always useful to have plans for the first 90 days, next 3 months, subsequent 6 months and subsequent 2 years.
  5. Inadequate communication: Strategies that are too secret to communicate always fail. So communicate, communicate, communicate. Understand that communication is about was the message received and what action was taken and not what was said nor how lavish the communication process was. Also keep people informed of progress and plan to create some quick early wins to build momentum and confidence.
  6. Absence of review points: Plans for the first 90 days, next 3 months, next 6 months, etc., provide convenient milestones to formally review progress. Even the best conceived plans evolve as ‘No battle plan ever survives first contact with the enemy’ (Clausewitz).

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    Please call Paul New on 020 8390 9972 or send a message.

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