10 reasons why great business plans fail to deliver

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10 reasons why “great” business plans fail to deliver: Bill French, TMG International Biz Plan

Post on 20-Oct-2014

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Ever had a great business plan that just didn't pan out? Find out the top 10 reasons why most plans fail to deliver brought to you by Bill French, Partner at TMG International Inc.

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Page 1: 10 Reasons why great business plans fail to deliver

10 reasons why “great” business plans fail to deliver:

Bill French, TMG International

Biz Plan

Page 2: 10 Reasons why great business plans fail to deliver

1. The plan isn’t that great:– It’s all about understanding your

customer ‘s needs, not just executive intuition

– The Plan hasn’t made the tough strategic choices

Page 3: 10 Reasons why great business plans fail to deliver

2. The strategic imperatives are underfunded:– Continue to over invest in current activities while

under investing in the strategic initiatives– It’s uncomfortable, but realigning resources

(people, capital, budgets) is necessary for success

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Page 4: 10 Reasons why great business plans fail to deliver

3. The senior leadership team has not totally bought in:– Egos & skill gaps can undermine the

new direction– Structure follows strategy

Page 5: 10 Reasons why great business plans fail to deliver

4. Role clarity and decision rights are unclear:– Lack of accountability & unclear

decision rights can be a serious drag on real progress ?? ?

Page 6: 10 Reasons why great business plans fail to deliver

5. Lack of scorecards with leading measures of success:– Frequent reporting of relevant,

actionable metrics on strategic imperatives is a prerequisite for success

Page 7: 10 Reasons why great business plans fail to deliver

6. The corporate culture is not collaborative:– A truly collaborative (not collegial)

culture accelerates achievement of strategic imperatives

Page 8: 10 Reasons why great business plans fail to deliver

7. There are conflicting objectives:– Lack of functionally integrated objectives

creates a culture of politics, conflict, inefficiency

Objectives

Page 9: 10 Reasons why great business plans fail to deliver

8. Incentive compensation plans are misaligned:– People do what you pay them to

do….this can encourage behaviours and actions that are counterproductive

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Page 10: 10 Reasons why great business plans fail to deliver

9. Failure to communicate:– Ongoing, transparent communication

provides feedback to the team and reinforces that the changes are “for real”

Page 11: 10 Reasons why great business plans fail to deliver

10. The plan is not a living document:– Objectives are a given, strategies and

tactics evolve based on customer engagement and competitive response

Biz Plan