The Ledger

Create Stronger Strategies, Not Goals

A strategy involves a clear set of choices that define what the firm is going to do and what it’s not going to do. Many strategies fail to get implemented, despite the ample efforts of hard-working people, because they do not represent a set of clear choices. These so-called “strategies” are in fact goals. They don’t tell you what you are going to do; all they do is tell you what you hope the outcome will be. But you’ll still need a strategy to achieve it. This is important to note because companies often get the two confused, and they are left with an unsuccessful “strategy”. Without a clear strategic direction, any implementation process is doomed to fail.

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