How Could You Create a Really Bad Strategy?

It isn’t hard to create a bad strategy, but how could you design and implement a bad strategy when you are actually trying to make a good one?  Here are some ways that strategy can go wrong with all the best intentions.

Describing what you want to do to your customers

It’s tempting to develop a strategy based on what you want your customers to do. After all, your success depends on customers buying the right services and products or behaving the way you want them too.

Companies can’t compel customers to do anything or behave in a particular way. A better approach is to describe what you would like your customers to say about you. You’ll be amazed at how that shifts your perspective.

Strategy as a Vegas buffet

When I first visited Las Vegas I was astonished by the amount and variety of food in the hotel buffets. It all looked so good I wanted to try everything. It’s a bit like that with strategy. There are so many possible objectives and initiatives, and they are all so exciting that it is hard to choose which ones to do. So instead of making the tough decisions, just put them all on your plate! Indigestion and waste are the inevitable results.

A key to good strategy is choosing what not to do. Keep what is truly vital for success and putting the rest (the nice-to-haves, the pet ideas, the silly) to one side.

Speed versus Haste

We all want our businesses to go faster. Our customers, competitors and regulators are moving fast, so we have to move faster than them.  Strategy goes wrong when speed becomes haste.

Haste is wanting to execute all of your strategic initiatives right now, because if you start everything now it will all finish sooner and the benefits will come quicker. Haste is like trying to push more porridge through a funnel. All that is achieved is a big mess and not much actually comes out the right end of the funnel.

Speed is achieved by understanding the constraints to delivering your strategy, and pacing your initiatives while working to remove those bottle-necks.

It might seem counter-intuitive, but starting projects at a steady and slower pace will mean that they are delivered faster.

Waffle words, buzzwords and platitudes

Strategy documents can be full of phrases that might sound good but lack substance or meaning. "Lean and mean", "world class", "fit for purpose", and “highly engaged associates” are typical waffle words and platitudes. 

A strategy that contains waffle words becomes open to interpretation. Does “Lean and mean” suggest that staff will have to work harder, or does it signal an efficiency programme based on the Toyota Production System led by a hard taskmaster? Whose purpose needs to “Fit for purpose”? Do you really need to be “world class” and if so, who in the world are you comparing yourself against?

Take out the meaningless words and make sure that you are really clear about what you mean.

If you would like to know more about great strategy execution, contact me at [email protected]