We all have strategic plans, whatever name we give them. And the process to build them is often long, laborious and lopsided.
But, let’s assume the plans that result are brilliant. Why don’t the organizations that create these plans become fantastically successful?
Two missing elements make the difference that separates a strategic failure from great success:
1 – Well defined processes to execute the plan
2 – Leadership buy in from boards and key staff
Think about a flip/flop on planning. Generally, retreats spend hours on identifying goals. A half day board retreat might better allocate an hour to define the goals and three hours to discuss the best execution.
Yes, I hear you saying that execution is a management function and goals are the board’s role. And I’ve probably said that, too. But in this case, we’re using the execution discussion to build engagement by the board. Do they really understand what it will take to achieve the goals?
Probably not. Boards work with you a few hours a month, or a quarter. The challenge is to make those hours build their engagement rather than bore them to death with details.
Here’s a follow-up task...can you identify five steps to get board buy in? If not, you won’t get it.
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