5 Strategy failure reasons
1. Long and complicated
It is obvious that when you cannot explain what you want, you fail to get it from your team!
Strategy plans should be simple, clear and easy to start. The start point is important and if people do not understand it they never start it. Basically by designing sophisticated plans, we lose the chance of implementation.
2. Market un-oriented
We work for our customers and clients. They are our kings, right? So, if we forget market needs and develop our strategy on paper then it will remain on paper!
Consider your customer pillar in your BSC twice! Do market research as much as possible and always keep an eye on your competitors.
3. Misinterpretation of data
Misunderstanding data is very dangerous for managers to decide properly. There might be different techniques for data collection and data mining and each method can lead us to different decision. When it comes to studying data we may need to ask consultants to help us but what makes me worried is getting consultants on board who reveal all the necessary ingredients for decision making!
Very well studied data with proper techniques applied for data mining will help but considering only a part of what we have (from data mining) without understanding the big picture misleads us surely!
4. Bad KPIs
Let's be positive ; -)
I speak about good KPIs. They are simple, focused on effectiveness, budget and efficiency. They are great connectors between strategy, measurement and improvement.
5. Lack of communication and not proper on-boarding
Believe it or not, people are the only asset for driving strategy across entire organization. If you wish to get them on-board you should be able to reply this question: "What is in it for them?"
Based on culture, needs, generation and etc. explain them what happens if they reach to their organizational goals. How would they be satisfied?