A bad strategy is not simply the absence of a good strategy, but rather a result of misconceptions and management deficits. The four characteristics of bad strategies are (1) Fluff – a form of gobbledygook that poses as a strategic concept. (2) lack of reference to the challenges (3) confusion of objectives with the strategy and (4) wrong strategic objectives.
A good strategy contains at least three elements: 1) diagnosis, 2) guiding policy and 3) coherent action. This is this the KERNEL of a good strategy. Just formulating revenue, profit or market share objectives alone don’t make a strategy. Neither is something by default strategic because it is general, high-level or happens to have been decided at C-level
Use your intuition for better decisions in uncertain situations Have you recently had to make a big decision such as taking a new job, hiring a new employee, starting or ending a business or deciding where to invest? Did you feel you had enough information? How did you go about it? In each of these […]
Multiple challenges arising at the same time can threaten the very existence of a start-up. Here are some tips for surviving a meltdown. For new organisations, survival is the first prerequisite for growth. Yet small organisations usually fail. Across the EU, over 50% of businesses fail within five years1, a similar figure to the US. When […]
“Use your brain”, said one of the workshop participants when I asked about the kind of behaviour they would like to see in their company. “What do you mean?” I said. “Well, the best people in our organisation are those who use their brains and will come to us with solutions – not only problems […]