THE TOP 10 MISTAKES THAT WILL CAUSE YOUR STRATEGY PROCESS TO FAIL

This one is borrowed from Prof. Dr. Jürgen Weigand and Christian Underwood, authors of “Hope is Not a Strategy.” Enjoy…

1. “We’ve always done it this way.” Change is the key to success. Don’t stubbornly cling to the tried and tested; be courageous and think innovative. Promote a culture of innovation and continuous learning through regular workshops and brainstorming sessions.
2. “We don’t need data; we have intuition.” Intuition is essential, but the foundation is missing without sound data and analytics. Use analytics and market research for data-based decisions. Stay up to date with regular market analyses.
3. “We do everything at once.” A strategy process is not a sprint but a marathon. Set clear, achievable goals and focus on the essentials. Plan realistic time frames for each goal.
4. “Silo thinking.” Communication is key. Encourage collaboration across departmental boundaries with cross-functional teams and shared objectives.
5. “Compartmentalized thinking.” Make your strategy come alive. Actively anchor it in daily processes and review it regularly.
6. “Ignorance of the market.” The market doesn’t wait. Integrate regular market analyses and use customer feedback to adapt your strategy.
7. “Top-down dictate.” Strategy is not a one-way street. Encourage bottom-up feedback and involve your team in the decision-making process.
8. “Perfection paradox.” Perfection is a myth. Use agile methods and start with a minimally viable product version of your strategy.
9. “Feedback desert.” Get regular feedback to keep your strategy process on track. Use regular evaluations and open communication channels.
10. “Lack of adaptability.” The world is constantly changing. Stay flexible, adjust plans, and use adjustable OKRs to adapt your strategy to the changing environment.

Source: ​https://www.strategy-frame.com/blogs/strategiepodcast/60​

Call to Action: Which ones do you see in your organization?