I’ve watched strategy being developed within companies like Adobe, Apple, Autodesk, and Nokia. I’ve seen strategy created by individuals. I’ve seen the big suits of Bain and McKinsey at work. I’ve seen it done well, and occasionally I’ve seen it done poorly. Having read more than 100 books that define the best thinking on strategy, I’ve noticed that following the existing methods often doesn’t yield success.
It’s not just the methodology. Here are five reasons strategy fails in businesses:
The 5 Structural Elements of Strategy: Decision-Making
Strategy has 5 Structural Elements – power distribution, decision-making, idea generation, ideas, process and people. Miss tuning one and you’ll fail. Add items that don’t blend and you’ll fail. Decision-Making …
Springtime Pruning for Growth
Before a company can be ready for growth, it must take stock of the current business situation–and make those decisions that will prompt sales expansion in the future. Making the decisions for what to cut, what to keep and what needs further investment is a key part of strategy development. This approach can be applied to your product lines, market segments, and resource allocation.
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