The Problem: "Too Much" or "Too Little" Result in a Lackluster Strategic Plan
Putting together the annual strategic plan for your business may be the biggest waste of company resources. Most teams dread the process but approach it as a necessary evil, resulting in a process that lacks true value, merely becoming a financial exercise. In the end, the CFO has a financial plan, but with little buy-in and lacking any meaningful new ideas.
Problem A: Too Much
Information overload topped off with analysis paralysis. In the end, the team is burned out, the deck is so big it needs an index, and everyone is fast asleep from boredom during the presentation. The reality is these teams measure their planning success by the size of their PowerPoint deck...rarely inspiring the CEO or the bottom line.
Problem B: Too Little
This approach proves Einstein’s definition of insanity - - “doing the same thing over and over yet expecting a different outcome.” Typically, the team takes last year’s presentation, changes the date on the title slide, makes some minor tweaks and voila, another planning process in the can. The team never challenges the status quo yet expects different business results. Einstein’s definition of insanity proven once again.