Margaret Reynolds For many business leaders, answering the question “When to Change Course” is one of the toughest. How long do you stay the course and under what conditions do you decide to change? The “right” answer, the one that studies correlate with the best performance, is “very rarely”. Surprised? You and most other leaders may be, …
Strategic planning implementation is known for being fraught with problems and achieving lower-than-desired results. Depending on what source you read, 70-90% of strategic plans that fail, do so in execution. Strategic planning is almost synonymous with “dusty book on shelf”. Why? There are three reasons: Action Planning–People don’t know what is expected of them: Often strategic …
Like most things, strategic planning success varies wildly. Most of us have participated or even led the process but how well it has worked is another question. Given the freshness of the World Series, allow me to compare it to professional baseball. All the teams play the game but by the end of the season …
When speaking with Vistage members about strategy, the most common complaint is the difficulty of effective implementation. In fact, depending on what report you read, 70-90% of plans that fail do so because of poor execution. Not only that, but plans that “work” only achieve 66% of potential value. Ouch! That is a lot of …
Every company has a culture, just like every company sells something–a product or a service. However, just as in products, there is a wide variety of cultures. The two most important categories are purposeful cultures and default cultures. If you don’t have one, you definitely have the other. Based on observation of hundreds of small …
Unlike internet surfing at work, gambling at work is a vice that has been around for many many years. Even with modern day management practices, we have not eliminated this troubling habit. In fact, it seems more and more leaders are playing the odds—and don’t even know it! The truth is that leaders are making …
If you are like most business leaders, you are focused on the dollars and cents. More and more CEO’s get paid based on how well the company performs against expectations–whether it is stock price, revenue growth or valuation. While that may be a viable way to reward and compensate, it does nothing to increase the …
Did you know that the odds are against you? Only 1 in 4 strategic growth projects actually return value. That strikes me not only as a low number but one of the reasons strategic planning execution so rarely accomplishes the intended goals. So why is the return so low? There are lots of reasons and …
Leaders are faced with more change than ever before, leaner staffs and budgets, and many more decisions with less time to make them. As a leader it is hard to find time to take a step back from fighting fires to think about where the business is going, where it should go, and how to …
There are many definitions of strategy. One of them is: strategy is how you spend your money. In lieu of a written strategy, one could look at your budget and determine what the company values. Does the company spend to hire the best talent, have the best R & D lab, state of the art …
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