Why does strategic planning fail? I hope the assertion that strategic planning does fail is not a surprise to anyone since it would perpetuate another fallacy of planning. The Harvard Business Review puts the ROI of traditional planning at 34% or less. In fact according to several surveys of top executives only 19% of strategic plans achieve their objectives. Perhaps another not so surprising data point is that among those same executives, only 25% of them are even motivated by the plans they create.
Why then do so many organizations devote so much time and energy to the annual ritual of developing or updating their strategic plans if they are doomed to failure from the start. Just think of all of the smart, well-educated, experienced managers and executives devoting so much of their organizations limited resources on an activity with such a poor track record of producing results?
Before I get too much farther allow me to offer a you a great summary on The Predictable Failure of Strategic Planning as just one of many great sources of valuable insights. Another interesting and quick read is Strategic Planning Failure. Papers like this
would certainly add more value to your planning readiness as an effective counterbalance to all of the gibberish from the planning industry.
But that is not the end of the shocking facts surrounding strategic plan failures and strategy execution: CONTINUE READING