10 Reasons why great business plans fail to deliver

10 reasons why “great” business plans fail to deliver:

Bill French, TMG International

Biz Plan

1. The plan isn’t that great:– It’s all about understanding your

customer ‘s needs, not just executive intuition

– The Plan hasn’t made the tough strategic choices

2. The strategic imperatives are underfunded:– Continue to over invest in current activities while

under investing in the strategic initiatives– It’s uncomfortable, but realigning resources

(people, capital, budgets) is necessary for success

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3. The senior leadership team has not totally bought in:– Egos & skill gaps can undermine the

new direction– Structure follows strategy

4. Role clarity and decision rights are unclear:– Lack of accountability & unclear

decision rights can be a serious drag on real progress ?? ?

5. Lack of scorecards with leading measures of success:– Frequent reporting of relevant,

actionable metrics on strategic imperatives is a prerequisite for success

6. The corporate culture is not collaborative:– A truly collaborative (not collegial)

culture accelerates achievement of strategic imperatives

7. There are conflicting objectives:– Lack of functionally integrated objectives

creates a culture of politics, conflict, inefficiency

Objectives

8. Incentive compensation plans are misaligned:– People do what you pay them to

do….this can encourage behaviours and actions that are counterproductive

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9. Failure to communicate:– Ongoing, transparent communication

provides feedback to the team and reinforces that the changes are “for real”

10. The plan is not a living document:– Objectives are a given, strategies and

tactics evolve based on customer engagement and competitive response

Biz Plan

http://smartblogs.com/leadership/2013/06/26/why-do-great-business-plans-fail-to-deliver/

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