4 Key Reasons Why Strategy Can Fail

why-strategy-can-fail

Why do strategies fall apart? What makes them go wrong? What can you do to avoid them? Here are 4 key reasons why strategy can fail:


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1. Wrong people

If the wrong people are in place to execute your strategy, it will fail. Who do you have in your strategy group driving it forward?

Make sure that the group matches the culture of your business when you appoint your strategy group. If there is a cultural mismatch your organisation will not accept the strategy as culture eats strategy for breakfast.

On top of this, if the points below are not taken care of, you can hire the best people, your strategy will still fail if the ideas, process and power structure is wrong.

Recommended reading: A Framework and 10 Key Questions for Your Business Strategy

2. Too many ideas

It is not only the amount of ideas, but the quality of the idea development process that counts. How good are you on generating them (what is your idea portfolio?) and how do you pick the right ones?

3. Wrong process

  • Is your strategic process top down or bottom up?
  • Do you have a strategy process at all?
  • How are the ideas processed by your organisation?
  • What agreements and commitments are made and how are they managed?
  • Do people understand what is happening?
  • Do people understand what role they play in executing the strategy?

Agree an action, develop the process and execute. Work particularly on the agreement and the process.

4. Wrong power distribution

If the wrong people hold the power, then your strategy won't be deliverable. 

Know who is involved, know their track record, know their strengths and weaknesses and vet everybody. Decide what information you will make available to whom and agree on how are decisions derived at. Set boundaries and agree expectations.

Over to you now. Have you got experience of why strategy can fail? How did you overcome that? Tell us in the comments below. 

 

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Tuesday, 18 December 2018
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