Articles—Issue 3, October 2005
The Top 10 Reasons Strategic Plans Fail
Are you challenged to understand why strategic planning has not worked well in your company? You are not alone. Please read on.
1. No collaborative process in developing the plan. A "cram-down" will yield poor results. Been there, done that, got the T-shirt...
2. There are too many strategies. Do less and do it better.
3. There is no plan for execution. The strategic plan must cascade into action plans.
4. The budget does not reflect the strategic plan. Example: Are you counting on new product development? If so, what is your R&D budget?
5. There are too many existing barriers to planning and execution. Fix them first or you'll waste time and money.
6. You have the wrong team. It takes talented, assertive people to create a good plan.
7. You may have a great plan, but most of the company doesn't know what is in it. Communication and alignment are critical.
8. You don't know your market. Market knowledge is critical to successful planning and execution.
9. You plan is not executable. You must ask, "Can this be done?"
10. The previous five plans you have done have gone nowhere and you don't know why.
(c)2005 by Tood Ordal. You are welcome to share this informational article with others.
Todd Ordal is a business consultant helping executives struggling with execution. Prior to founding the consulting firm Applied Strategy LLC, Todd spent over 25 years in management and executive roles such as President and CEO. You can contact Todd at todd@appliedstrategy.info