Monday, 28 June 2010

True Strategic Planning

According to Harvard Business School research and an April 2010 article in Chief Learning Officer titled “The Four Myths of Strategy,” more than 90% of all corporate strategies are “not executed successfully,” or the strategies themselves are inferior from the start.

“In reality, most companies craft a half-baked strategic plan that is only partially implemented and has sketchy buy-in at best,” claims the article.

The article then details four commonly held myths about the strategic planning process, including: Myth #1: Content is King; Myth #2: Consensus Equals Success; Myth #3: Exclusion is Efficient; Myth #4: Communication Creates Commitment.

“Strategic planning is not an accounting and forecasting exercise,” the article shares. “It’s not a weekend off-site spent in a room, hashing out who’s willing to go along with what. And it’s not a bunch of words put to paper and placed in a binder. It is a living, breathing, organic leadership action. It requires not a calculator, but the courage and conviction to inspire everyone to be their best and get on the same page. As Academy Award-winning director Francis Ford Coppola once said: ‘The first step in making a good movie is getting everyone involved to be making the same movie.’”

You can read the full article Here

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