Why do business/strategic plans fail to deliver results

Every generation need a revolution.  One such revolution  is entrepreneurial revolution

From Smartblog on Leadership by Bill French | June 26, 2013

At AGSB, we spend a great deal of time teaching strategic management;  on my part, at Entrep class, we teach students to make business plan (very few master this skill)

However, despite the assumption that the first step toward achievement of goals is writing it down, many business plans/strategic plans fail to produce results (it is dependent on the team, the passion, the communication, the checkpoint that goes with it.  Here are some reasons enumerated:

l.  The senior management has not bought in;

2.  The team is not a team (not collaborative)

3.  The  plan is underfunded;  the plan may be not compelling enough, there is not enough fuel or

logistics to support the plan

4.  Lack of communications;   the contents of the plan is not clear (hence the need for strategy map) and not simple enough to be understood and shared by everyone.   Top management must keep pounding on the table the strategy

5.  Misaligned incentives

6.  Shallow understanding of the customer and environment.   The senior management would not probe deeper into the customer and the knowledge of the facts is mostly tribal (rote) knowledge.  I have seen business plan submitted with little or no data on the customer and the business ecosystem

Read more on Smartblog article on business plans failing  >>>>

From info to infographic in less than 30 minutes

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Subject: From info to infographic in less than 30 minutes



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