Monday , August , 20 , 2018
The Institute Way Blog
This is the second installment in a blog series that discusses potential pitfalls that could hold you back from being fully successful in your strategic planning efforts. The first was ensuring that you have full leadership support before you begin the strategic planning initiative.
My father gave me an important piece of advice once that I will always remember. “Always have the right tool for the job!” Of course, I had to re-learn that lesson through the years a few times, but it really is good advice. Most things that I have been successful at in my life have been because I did it the right way and using...
Tim Johnson noted in his recent strategic planning article that 85% of Fortune 500 companies from 1955 no longer exist today because they failed to keep up with a changing world. The December 2017 tax law passed in the U.S. offers an example of a change that could possibly disrupt a key assumption you might have made when you developed your strategy. While most...
One of our clients decided to build their strategy map and balanced scorecard themselves after some training. They created a draft strategy map with 12 strategic objectives, linked together in a cause-effect chain--the strategy map--that showed how value was being created for their customers and the owners of the business. A few months after the training, the number went...
Are your employees strategic thinkers? Are you? How can you tell? How one answers one question is a dead giveaway.