No great strategy was born without careful thought. That’s why the process of planning a strategy itself is an important vehicle for setting priorities, making investment decisions, and laying out growth plans. But for many companies, the activity has devolved into either an overexplained budget or just bad amateur theater – lots of costumes in the form of analysis, charts, and presentations – but with very little meaningful substance that can be translated into action. As a result, many strategic plans end up as shelf decorations or hard-to-find files in crowded hard drives.
Since this is the season when many companies are engaged in strategic planning, it’s just the right time to break bad habits. Here are four steps that you can take to make better use of the hard work that goes into planning a strategy: Read More