Every organization has been there. After a series of drawn-out meetings, the team finally agrees on common goals and a new strategy. Everyone is ready to move forward, and the next few weeks seem to go smoothly. But before you know it, the excitement has fizzled, the plan has been sidetracked and you’re back to the old way of doing things.
Why are so many plans so short-lived? We have a few ideas. Here are seven reasons your last strategic plan is on the shelf.
1. Lack of Urgency
Without a sense of urgency among your stakeholders, it’s impossible for any plan to make it past the boardroom. A successful strategy has to provide the proper context, firmly establishing the need for a new plan of action in the minds of everyone involved.
2. Lack of Research
Too often, a committee develops a plan based on the sum of the members’ biased perceptions and personal experiences. Without a data-driven approach and a willingness to ask the tough questions, even a strategy formed by seasoned professionals will fail to address the challenges you are facing.
3. Lack of Clear Goals
Obviously a strategic plan needs direction, but you’d be surprised how many plans fail to provide a concrete destination. It’s vital that goals are specific, measurable and include realistic deadlines.
4. Lack of Accountability
If employee and executive performance are not evaluated based on accomplishing the goals of the strategic plan, those goals will not be accomplished. We focus on what we measure – and on what determines our success.
5. Lack of Realistic Budget
A plan can have amazing ideas, but if it isn’t grounded in the reality of available resources, the strategy is just a fantasy. The plan must be tied to a detailed budget and allotted realistic funding or it is doomed to fail.
6. Lack of Clear Vision
A one-year or three-year strategic plan should move the organization somewhere. If a plan is merely a list of disconnected goals and tasks that, together, don’t advance the organization toward its long-term vision – the tasks may be accomplished but the organization will stall.
7. Lack of Leadership Commitment
If the team thinks the strategic planning process is just a “required exercise” versus vital work to determine the future – the plan will fail. This is especially true if the plan calls for bold or painful change; inertia toward the status quo will win without passionate, committed leadership.
Come back next time to learn how to ensure your strategy avoids these pitfalls and moves beyond the meeting room to create results.
Coming soon: 7 Secrets to Successful Strategic Planning Engagement
