SPECIAL ADVISORY ARTICLES
Methodologies That Make Strategic Planning A Waste Of Time
Many firms that have been involved in conventional strategic planning are failing to improve their ability to differentiate themselves, their competitiveness or their relative growth, in spite of the investment of time and effort in the planning exercise. How many firms with a beautifully presented strategic plan have anything meaningful to show from their efforts? One would think that the application of strategic planning methodologies would have achieved more measurable results.
One needs to recognize that the typical strategic planning exercise now conducted and infused with massive quantitative data misses the essence of the concept of strategy and what is necessary for being innovative and differentiated. Indeed the word “strategy” has unfortunately become a devalued term, challenged only in the buzzword hall-of-shame by “synergy” or perhaps “out-of-the-box thinking.”
But the problem here for most of us isn’t with terminology. When research study after research study now suggests that the only way for your firm to grow is at the expense of competitors, the need for you to craft a truly competitive strategy could not be more acute. The real problem is one of not continuing to utilize shop-worn, tired old approaches, which simply don’t work anymore.