Your Company Strategy… Is It Good or Bad?
July 8, 2011
To help you get started I wanted to share an article I came across in the McKinsey Quarterly written by Richard Rummelt, titled “The Perils of Bad Strategy”.
In the article he describes the hallmarks of a bad strategy…
- Failure to face the problem
- Mistaking goals for strategy
- Bad strategic objectives
He then goes on to discuss why there is so much bad strategy in businesses today by exploring two common symptoms that lead to bad strategy development within a business…
- The inability to choose
- Template style strategy
He then goes on to discuss the kernel of good strategy…
- A diagnosis
- A guiding policy
- Coherent actions
I found this a great read that will help anyone frame their thoughts around what a company’s strategy should be going forward into 2012 and beyond. This is one to print out for your folder or bookmark so you have it available every time you want to think about setting strategy, and to share with your team when you are in discussions around setting strategy for the company.
I hope you enjoy it as much as I did…
All the best!