#Will shooting blocks get rid of mundane series
Mike Tyson famously said, “Everyone has a plan until they get punched in the mouth.” Rather than view strategic planning as a big fight, Terry has shifted his paradigm to be a series of rounds punctuated by numerous encounters. His shift was inspired by the words of a boxer. He recognized that he was limiting his development of strategy through his obsession with having a detailed plan. Terry is CEO of a business which manufactures “medicines for animals” including farm animals and domestic pets.
#Will shooting blocks get rid of mundane how to
How to fix it: Shift your planning modelĭon’t get stymied by overemphasizing “planning” in your company’s strategy development. In that industry, plans are detailed to the last door handle and are designed to eliminate errors and miscommunication between architect and builder. The model she and her executive team had embedded subconsciously was of a different type of “plan.” It was the kind you see in the construction industry which does produce certainty - a building plan. On further questioning, Julie revealed a misplaced paradigm. “We’ve given up on strategy,” she said, “we’ve gone back to tactics.” Her executive team’s conclusion was startling. The results were usually disappointing, as each year they’d look at what they’d achieved against their plan and notice a gap. She and her executive team would meet annually to undertake a strategic review and develop a strategic plan. While it provides many of the same services as traditional banks, it also manages client assets via large investment funds. Julie is a senior executive in an investment bank. The business’s circumstances are changing so fast.” Stumbling Block 2: Wrong model As she explained, “Even if we thought we’d found the perfect plan, it wouldn’t be the answer for very long. She transformed her thinking to become more organic and more understanding of the pliable potential of her business. She came to understand that her workforce of individuals with great and diverse talent had immense and untapped capacity. Thus, she expected to find success via a rigid, mechanical plan. Hannah recognized that her thinking about her organization’s capabilities were fixed. A growth mindset, in contrast, holds that individual abilities are elastic and can improve over time. A fixed mindset believes that some capabilities, such as talent or intelligence, are given and unchangeable. Dweck describes how individuals may have a fixed or growth mindset. In response, she shifted her thinking, shaping it along Carol Dweck’s ideas of a fixed vs. But the company has in the past years struggled with border closures, disruptions to supply chains, flooding, and intense competition In the past, her expectations of strategic planning leaned towards it guaranteeing a clear and certain future. Hannah is the CEO of a major egg producer in Australia. You need to not only accept volatility but also recognize your inability to come up with the perfect plan. How to fix it: Change your strategy mindset
“When I started strategic planning, I was looking for something that hit me in the face and said, ‘This is what you have to do to get to where you want to be.’” Mitch expected that fixed plan, that perfect program that he could follow step by step to achieve an outcome. On becoming CEO, which is when he commenced his strategic planning journey, he admits that his expectations were unrealistic. The threat to his business is existential. Mitch’s main problem at present is that the company is being impacted by an influx of low-priced imports from China and India. Mitch is the CEO of a business that makes “fasteners,” such as screws, for motor-vehicle manufacturers and the construction industry.
Stumbling Block 1: Unrealistic expectations To find out more about strategic planning in practice, I interviewed several CEOs for their firsthand accounts of where strategic planning goes wrong - and right. The problem lies not in the concept but in the misconceptions about how to use it. And the strategic planning process clearly serves a purpose.
Executives appreciate the value of the concept. So, why are we still talking about “strategic planning?” Because we are still talking about it in corporate corridors, executive suites and boardrooms around the globe. For these and other reasons strategic planning has long been scheduled for a big “fall.” That prediction was made nearly 30 years ago. Business-as-usual takes over and the creative thinking behind bold business moves becomes sidelined. The result “emerges.” In other words, the plan needs updating as time progresses.Īnother criticism is that what takes place in “strategic” planning isn’t “strategy” at all. Strategic planning has been branded a “big lie.” One reason is that what really unfolds for an organization is not the same as what was articulated in the strategic plan to begin with.