How many jokes have you heard, and even made, about strategic planning being a waste of time, and not really working? Yes, it is difficult: statistics say 75% of companies are struggling to do it well. Below is a video from Harvard Business Review exploring 5 strategic planning myths, and how to deal with them.
To summarize the video (I still encourage you to watch it) here are some key lessons about strategic planning:
- Planning remains important… as long as the plans can adapt as business life unfolds and circumstances change.
- Context matters: People will execute better and more effectively when they know what the overall priorities are.
- Communication is key: You need people to work together across, up and down, as well as around the key priorities of the company.
- Focus matters: You need more communication, and a relentless pursuit of focus so that everyone is on the same page before the start.
Contact me if you want a business model that aligns Purpose, Potential, Priorities and Focus.