From the course: Strategic Planning Foundations
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Avoiding major strategic planning risks
From the course: Strategic Planning Foundations
Avoiding major strategic planning risks
- Strategic planning takes a lot of time and a lot of energy. It is a high resource type of exercise. Unfortunately, many times that process can be a worthless pain, and the worst thing that can happen with a strategic plan is everybody puts in all this effort, and then it gets archived, put on a shelf, and never looked at again. Now there are some warning signs that you can look for to determine if your strategic planning process is flawed. First, initiative proliferation. Do you have to use multiple pages just to add up all the different initiatives you're thinking about pursuing? The second risk is thinking too small. All the initiatives that are on your list are really small, incremental improvements to your business and don't really advance you to your strategic goals. A third is thinking too big. All the initiatives are huge, and everything has to line up perfectly, and it's a really large bet that you're taking with…
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