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Help Overcome Corporate Myopia
- I will encourage you to prioritize and deal with the really pressing issues of your company
- My advice always will aim at opening up new perspectives that transcend the usual thinking patterns
- My focus will be to flag potential fundamental strategic mistakes in the project
Safeguard International Standards
- I will advise you on keeping up with international project standards and on carefully considering the expectations of investors
Focus on Competitive Advantage
- My advice always targets your firm’s future market success and profitability
“It’s much more important to do the right things than doing things right.”
Peter F. Drucker (1909-2005)
Strategy and management expert
Strategic planning is ...
- Annualy recurring systematic planning process
- Forward-thinking action plan which is designed to ensure future success and competitiveness of the company
- Totally new and original market positioning of the company
- Critical assessment of the company’s competitive positioning based on business acumen, deep insight into the operations of the company and examination of core business aspects
… is not
- Short-sighted tactical measures designed to react to market events
- Summary of measures targeting to temporarily improve certain financial ratios
- Financial, market entry or innovation planning
- Approach to validate the current strategy
“The essence of strategy is choosing what not to do.”
Michael E. Porter
Strategy and management scientist – Harvard Business School
Common Strategic Planning Pitfalls
Basic Mistakes
Narrow Perspective
- The strategy team gets entangled in the details; the participants do not see the forest but the trees
- Genuinely new and valuable strategic options are overlooked and the same old strategic moves are preferred instead
Lack of Tangibility
- The draft strategic plan is not questioned in detail and checked for inconsistencies
- Therefore, strategies remain abstract and cause difficulties in their practical application
Process management flaws
- Underestimation of the extraordinary importance of the human factor within the strategic planning process
- The strategy team members’ strategic capacity and emotional/social sensitivities are neglected; Time slots for training and consensus building are not accounted for
Incorrect Strategic Analysis
- Corporate strategic requirements are diagnosed incorrectly and/or incompletely
- Problems are not categorized by assessing multi-layeredness and complexity