Watch out for the Good News Show
Overcoming Strategic Pitfalls
Strategic planning often falls into the trap of becoming a "good news show," where only successful outcomes are highlighted, potentially masking underlying issues. However, understanding and addressing the less successful aspects of strategic initiatives is crucial for true progress.
Ignoring Failures
A common mistake in strategic communication is focusing solely on successes, ignoring the lessons that can be learned from failures. Just like mountain climbers who don't always reach the summit, organizations need to examine why certain strategies did not achieve their goals. This approach helps in not only recognizing but also addressing setbacks, which are inevitable regardless of the plan's robustness.
Regular Reviews
To counteract potential crises and setbacks, regular strategic reviews are essential. We recommend monthly "bear reviews" of must-win projects—these are critical for assessing if the strategic efforts are on track and delivering the desired outcomes. Such reviews, lasting only about 15 minutes each, allow teams to stay aligned with their objectives and quickly adapt to changing market conditions or internal challenges.
The GROS Funnel
Our Business Markers tool for effective strategic management is the GROS funnel, also known as the stage-gate process. This approach helps in mapping out projects over time, assigning them values based on their developmental stage and proximity to execution. As projects progress, their potential impact on the organization becomes clearer, allowing for more informed decision-making.
The GROS funnel is a decision-making model used in strategic planning to ensure clarity and actionability. It stands for:
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This model ensures that each project is continually evaluated and that only those with the highest potential impact are pursued.
Agility in Strategic Planning
Agility is vital in today’s fast-paced business environment. An agile strategy allows organizations to pivot and adapt when faced with unforeseen changes or setbacks. Incorporating an "emerging strategy" into the planning process can provide a pathway to success, even when the original plan needs to be adjusted. This flexibility ensures that organizations can continue to move forward, potentially discovering new and more effective strategies to reach their goals.
Conclusion
Effective strategic planning requires more than just celebrating successes; it necessitates a deep dive into failures and an adaptable framework capable of responding to an ever-changing landscape. By embracing a comprehensive review process, utilizing strategic management tools like the GROSS funnel, and maintaining flexibility in decision-making, organizations can enhance their strategic execution and increase their likelihood of long-term success.
Author: Ides Ticket, Founder of Business Markers in Belgium, Germany and Netherlands. Worked at P&G, Coca-Cola and MTV Networks. Member of several boards. Gadget lover, inspirator and challenger, strategist, husband, father of Arne and Kaat.