In a world of continuous change, why do so many companies spend so little time defining their corporate strategies?
Today, business moves at a frenetic pace that requires ongoing reassessment of companies’ priorities to ensure organizations are on track to reach objectives. And with increasing frequency, such assessments require redefining what business the company is really in as opposed to the business they thought they were in.
Defining Strategies – Identifying Challenges – Providing Clarity
Scenarios like these are due to serious challenges brought about by shifts in the competitive landscape, new entrants to the market, and technological advancements.
Yet in companies of all sizes there’s a strong propensity for focusing on tactics that are no longer germane to the current set of situations.
Stephen Monaco is listed as one of the Top 9 Strategy Consultants by Clear Point Strategy
Stephen Monaco provides critical thinking combined with cool, creative cognitive processes to cut through the chaos, identify challenges and define strategies that lead to the positive outcomes required for long-term success.
Following his talk on strategy at the Digital Summit in Dallas in 2012 called, “Ready… Fire! Aim,” @StephenMonaco ‘trended’ on Twitter as one of the Top 10 most mentioned names.
Why did the talk given to an audience of 750+ executives during a public speaking engagement cause the audience at that event to tweet what Monaco was saying in real-time about how companies put tactics ahead of strategies that those tweets got so many retweets to make Stephen Monaco “go viral” internationally on Twitter? Relevance.
The message Monaco delivered was from years of witnessing companies from start-ups to large corporations forging ahead with tactics without well-defined plans resonated with the people all around the globe. Many members of executive teams tend to spend more time planning a family vacation than they do on their company’s strategy – this is even more true when it comes to refining yesterday’s strategic plan and refining it to be in-sync with changing consumer sentiments, new entrants to the market, and technological advancements that accurately portray industry niches today.
Unfortunately, it’s a very common tale – and a reckless hit for success.