Strategy is always a hard concept for people to grasp. Once you get it, you really get it. But it doesn't come naturally for all.
It's funny - you'd think it wouldn't be that difficult. You're answering the question, "What do I want to accomplish this year?"
But, for some reason, people get bogged down in the details. They present tactics as strategy. They don't know the difference.
In this CBS News article, MoneyWatch discovered the same: Most managers don't know the difference between strategy and tactics.
Their evidence? This...
- Managers are forever presenting objectives or tactics as strategies and vice versa.
- The endless debate over strategy versus execution, which is silly because companies need to excel at both.
- How the simple phrase "strategic planning" makes most executives roll their eyes and think "wasted time and money" which, in most cases, is the unfortunate truth.
- For most people, the term "career strategy" is synonymous with finding a job.
- Change management consultants are all about the process when it's usually the underlying strategy that's flawed.
Eight Business Strategies that Kill Companies and Careers
They also discovered there are eight business strategies that kill companies and careers.
The Hope Strategy
As Americans, we're accustomed to the hope strategy. But, as it turns out, hope is not a strategy. You can't wait and see what happens instead of taking action. It doesn't work.
Strategy of the Day
Most companies without a vision are guilty of doing this. They get backlash from a customer or a group of customers and they react. There isn't a reference back to the vision because there isn't one.
The Peanut Butter Strategy
In the past few years, we've been doing more with less. But multi-tasking and spreading ourselves too thin (a la peanut butter) does not work.
Dumb and Dumber
Just like the movie, some companies have a tendency to continue to do things the way they've always done them because they're not led by people smart enough to make real change.
Grandiose Vision
While it's extremely admirable to have a vision that extends beyond yourself, it can be harmful as competitors are more nimble, flexible, and focused.
The Pasta Strategy
Yep, it's just as it sounds. Throwing stuff up against the wall to see what sticks.
If We Build It, They Will Come
This strategy is prevalent with the use of social media. Companies build Facebook and Twitter pages and expect their customers to welcome them into their personal lives with open arms. This is not the Field of Dreams.
Stay the Course
This is also known as, "But we've always done things this way." If it's not working, stop doing it!
You've likely experienced one, or a combination, of these. What else do you have to add to the list?
