Strategy should be a creative exercise but companies frequently end up with plans that look very much like their previous ones. Strategy expert Graham Kenny describes a three step process for avoiding this trap: 1) open your mind to ideas from external stakeholders, 2) take a cold, hard look at where your performance is failing, and 3) study companies in other industries that have solved these problems.
Strategy requires our most inspired creative management thinking, as we seek to find ways to respond to changing conditions and leverage our newest competitive advantages. So why does your shiny new strategic plan often look just like the last one?
A guy named Frank summed it up for me perfectly. This was over 20 years ago, but I remember it like it was yesterday. I was facilitating a strategy session with 14 executives. We had a flipchart, white-board and screen, and we were following the agreed agenda. I was taking points from the group. Then suddenly…
This article was written by Graham Kenny and originally published on hbr.org