Craig McIvor writes that over twenty years of crafting strategic plans for businesses, he has come to some conclusions. First, that modern leaders are drowning in detail and this is hampering the quality of their decision-making. Second, very few businesses understand the drivers of their business and what competitive advantage really means. Without a clear understanding of what the business does and what constitutes its competitive advantage, the task of developing a strategy becomes difficult. Finally, McIvor writes that our leaders’ risk-aversion is limiting the ability to change towards more sustainable business models.
Article Quote:
“Many large businesses succeed in spite of themselves. Over time they do accumulate competitive advantage, market share and great profits, but without understanding the reasons for this, their ability to sustain this position is unlikely.”
Link: http://www.nzherald.co.nz/small-business/news/article.cfm?c_id=85&objectid=10613436
The self-imposed information overload we put ourselves through only hampers the strategic planning process. In this information age, we have nearly infinite amounts of information at our fingertips. When sorting through what is important and useful, sometimes we need to take a step back to focus on what kind of decision needs made. Remember, information is only useful when it is relevant.
Once a strategic plan has been adopted, implementing it is the next step. Strategic planning software brings projects and people together in a collaborative effort that puts the strategic plan at the forefront of day-to-day operations.
For more on strategic planning, see http://www.performancesolutionstech.com/category/strategicplanning/
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