I’ve observed just about every type of dysfunction or malfunction possible with strategy work. Here are the misfires I see most often. Take heed, get the right help, and do everything possible to avoid these tripping points. Your firm’s future and probably your job depends on it.
Strategy processes mostly disappoint. That’s too bad, because there are few things more essential to an organization’s success and security than getting strategy right. Here are (at least) 17 ways your strategy process will break bad:
From the symbolism of the annual off-site strategy event to the cost to the fact that strategic thinking time is reduced to a once or twice a year event, this approach is anachronistic in a world with markets and conditions changing daily. In twenty years of these things with some great people and great businesses, I’ve yet to see anything come out of these meetings that changed our businesses. I will offer that they did allow for another layer of vetting and idea absorption. Nonetheless, the heavy lifting took place with others outside of the cozy confines of a resort or hotel meeting room. It's time to ditch the annual strategy off-site.
Get your team talking about the right topics and get them focused on assessing and comparing based on the criteria that are the most important to your success. Skip the summer strategy offsite and start the dialogue on determining what’s truly important, and you’ll find yourself and your organization moving and working the right things faster than you might imagine.
