Ineffective Strategies Hinder Growth
Too many leaders settle for strategic growth plans that won’t work. Why? Because they don’t understand the difference between good and bad strategies, their strategic plans are flawed from the beginning.
Strategies that lack an understanding of the key challenges that need to be overcome, have an insufficient focus, or that take an unrealistic approach are just wishful thinking. The best leaders know not to settle or be fooled by a bad strategy – one that does not represent the hard work it takes to design and implement a good strategy.
3 Signs of a Bad Corporate Strategy
A bad strategy is likely to be loaded with slogans and wishful thinking. A bad strategy:
A Good Corporate Strategy
A strategy that can be effectively followed and that can guide an organization toward a successful future has three fundamental elements. A good strategy:
The Bottom Line
Strategic planning is hard work. Make sure that your efforts to craft a strategy are worthwhile. Effective strategies address the difficulties ahead, focus on the few moves that will make a difference, and set up the aligned actions required to succeed.
To learn more about good and bad strategies, download 7 Ways to Stress Test Your Strategy Now
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