10 reasons why “great” business plans fail to deliver:
Bill French, TMG International
Biz Plan
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
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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3. The senior leadership team has not totally bought in:– Egos & skill gaps can undermine the
new direction– Structure follows strategy
4. Role clarity and decision rights are unclear:– Lack of accountability & unclear
decision rights can be a serious drag on real progress ?? ?
5. Lack of scorecards with leading measures of success:– Frequent reporting of relevant,
actionable metrics on strategic imperatives is a prerequisite for success
6. The corporate culture is not collaborative:– A truly collaborative (not collegial)
culture accelerates achievement of strategic imperatives
7. There are conflicting objectives:– Lack of functionally integrated objectives
creates a culture of politics, conflict, inefficiency
Objectives
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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9. Failure to communicate:– Ongoing, transparent communication
provides feedback to the team and reinforces that the changes are “for real”
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
http://smartblogs.com/leadership/2013/06/26/why-do-great-business-plans-fail-to-deliver/
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