Strategy is an over-used word. Strategic planning is considered by many to be a waste of time. A significant percentage of companies don’t even have a plan. So the question becomes: ‘Are you good or just lucky?’ For those of you who think strategic planning is a waste of time, you can stop reading right now. I’m not here to try to convince you when you see...
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So everything was going great when you came up with that strategic plan. You have the Strategic Goals, the Key Priorities, the Actions and even the Measurement piece. You’ve decided who’s accountable for what and when it’s supposed to be completed. Then something happened. Your day got in the way. All those pesky routine tasks seemed to take priority and you’re now finding yourself behind...
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I would venture to guess that most CEOs do not have the courage to challenge their strategies. In this recent article from strategy + business, two significant questions are asked: 1. What distinctive capabilities make the company better than any other at how it adds value to its individual businesses, and how those businesses meet their promises to customers? 2. Are changes happening in the company’s world...
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I saw the title of this blog in a cartoon yesterday and it not only had me laughing, but had me thinking about strategy. And as a friend and colleague of mine also says “Hope is not a strategy.” While many companies will most likely not consciously say this, by their actions, this is exactly what they’re planning on – or more precisely they’re not...
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The statistics are depressing. One out of 5 mergers create value. 80-90% of acquisitions fail. 50% of acquisitions actually decrease value. So with that, why would you even consider entering into this pothole? Yet, day after day, companies enter into new agreements to acquire something, merge with someone or to be sold and hope for the best. If you’re the seller and you don’t have...
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We see it quite often. Companies are struggling with growth and need to re-evaluate their strategy. Some enlist outside help early and others decide to go it alone. So how do you know when you should hire an external resource to help with your strategy development? Here are few things to consider.Does your strategy look the same from year to year, just the dates are changed? This is...
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Merger and acquisition activity is expected to be up sharply in 2014. I find a couple of things interesting about that: 1) Anywhere from 50-90% of transactions fail to meet their stated goals, yet there is this exuberance to spend more money, when even the best odds are like a coin toss. 2) I wonder if this is being driven by companies that are having difficulty achieving their current...
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I couldn’t agree more! In this post on LinkedIn, Jeff Miller makes some excellent points. This post points out the benefits of aligning strategy, culture, and people capabilities. We see many companies who fail to consider their culture or people capabilities when developing their strategy. The result is failed implementation. A great strategy isn’t worth much if it isn’t implemented well or at all.