Published: Saturday, 15 February 2014 21:17
(First in a series)
One staple of strategic planning (whether it is an annual exercise, or other frequency) is the grand "realignment" strategy.
It might come out of a free-form brainstorming session, or a (high $$$) consultant advises that there might be this new market that you can address. Or from a bluebird sale to a completely orthogonal business. Whatever the source, soon, there is a desire to shift strategy to chase this.
Regardless of its source, it is a potential hazard to the business. Not that a strategic realignment is bad. Often businesses are able to pivot, realign their strategy, and return to a growth business model. But it does take more than a strategic planning session, a brilliant idea, and dictates to the masses.
Having been involved in many of these "reinvent" yourself exercises, I have seen all sorts of realignment programs, most have failed, for a variety of reasons.
Case 1: Executive Apathy/Interference
AKA: Doing too much with too little knoweldge
Read more: Strategic Realignment Pt 1