I’ve deliberately written a contentious title, “Why Doesn’t Strategy Work” because I believe the opposite.
When it’s done right, spending time on developing and implementing your business strategy is some of the best and well rewarded time an entrepreneur can spend.
But I also have to admit that when it is done wrong, strategy doesn’t work.
There are two areas which make business strategy fail.
- Mistakes made in strategy planning and development
- Mistakes made in implementing the strategy
In strategy planning and development, either no strategy has been developed or a poor strategy, doomed to failure has been created.
In the strategy implementation stage, the strategy itself is sound but the implementation of the strategy fails because senior management fails to lead the team of employees and change systems and processes to develop the new capabilities.
I am planning to go into these two issues in more detail in future blogs: