Why Your Strategy Process Doesn’t Work – Part 1
Many product and business managers in the corporate world can relate to that dreaded time of year, usually sometime between March and May, that is lovingly referred to as “strat plan.” It’s usually a stressful time of year, filled with all-day executive meetings that are often preceded by months of data collection, presentation preparation, and even full-day practice sessions in the hope that “this year, we’re going to get it right.” The week usually ends with the customary pats on the back for anyone who manages a profitable portfolio, followed by the all too public bashings of those poor souls who don’t. And all of this feedback is delivered with far too much focus on how each business is performing today, and not nearly enough focus on the actual future plans that these meetings are supposed to be about in the first place.
Having been through this process many times myself – from both sides of the fence, mind you – I dream of a day when this can all be different; when strategic plans are truly focused on the future; when “strat plan” meetings are collaborative updates of the great progress that has been made on already existing strategies, rather than complete reinventions of plans that never really had any chance of getting off the ground in the first place; when people actually enjoy presenting their strategies – secure in the fact that they have the proper training, guidance, and support to not only focus on long-term results but to actually be measured on and rewarded for those results as well.
In short, I dream of the day when the strategic planning process can be fun again. And when, by the way, it actually produces the long-term results that companies are looking for because, I almost forgot to mention, most current strategic planning processes don’t.
The question is; how can we turn this ship around? How can we change something that has been ingrained in the fabric of most corporate cultures for the better part of 50 years, and that continues to be further perpetuated by most every strategy book and program in existence? How do we stop the downward spiral of corporate “strategies” that continue to produce subpar results, leaving far too much room for smaller start-up companies to thrive within the gaps that larger companies keep skipping right over?
I believe the answer can be found in two words: passion and creativity.
In Part 2 of this series, I’ll explore the passion side of this equation and illustrate a few of the ways that it can be used to transform the way we think about strategy. In the meantime, if you are interested in learning more about my 7-step process for infusing more passion and creativity into your strategic plans, please: CLICK HERE If you would like to learn more about developing a creative product strategy using our exclusive Creative Strategy Generation Toolkit, join us in one of our upcoming Product Strategy Generation Workshops. REGISTER NOW
Get Actionable Tips from Industry Experts Delivered Weekly!
More than 300 product managers have already subscribed!