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Do you hate boardroom brainstorms— with those over-excited colleagues, the bizarre ideas and a whiteboard covered in random words? The great news is that strategic decision-making is changing for the better at smart companies.
Most of us have lost many hours of our lives to heavy-duty strategy meetings that failed to deliver much at all. Years ago, we probably saw these sessions as a necessity as we set budgets, identified priorities and carefully steered the course of our companies.
But that drizzly Wednesday you spent last October holed-up with ten other people may not be the springboard for success that everyone imagined anymore… it could be your downfall.
The simple truth is that the world doesn’t stand still long enough to lock ourselves in a room for a day and decide what’ll happen over the next 12 months. And here are just a few reasons why:
Customer expectations will evolve quickly and rise considerably. New competitors will emerge — from start-ups or larger businesses expanding aggressively into your marketplace. And disruptive technologies may present opportunities for you to enhance your products and services.
And don’t forget, your company dynamics can shift profoundly too. Changes to personnel, investors and offices can mean you’ve got suddenly double or half the resources you had before. Illness and other unforeseen factors can change everything too.
The world can look very different… even a few months later.
Sticking rigidly to a detailed strategy can create ‘group-think’, lead to blind spots and prove fatal for a company if you can’t respond to unforeseen challenges.
Relying on consultants to come up with all the answers isn’t the solution either. Most will follow the same point-in-time approach — and not be around when the storms hit home.
So what’s the best way forward for strategic decision-making?
Please read the full article on The Executive Magazine, on London Business Matters, or on CEO Today Magazine
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