Strategic plans are often filled with empty phrases like "Leverage Our World Class Operating Capabilities" or head-scratching aspirations like "Reshape Our Pricing and Trade Strategy to Effectively Drive Demand While Maintaining Market Access." Language like this can signal that a team doesn't have a clear idea of what they need to succeed. To counter this dynamic, the CEO of a large financial services firm banned her organization from using a list of words and phrases such as "leverage," "synergy," "disintermediation," and "robust." With the right leadership, a good strategic plan will deliver meaningful substance that can be translated into action.
Adapted from
"Four Tips for Better Strategic Planning" by Ron Ashkenas and Logan Chandler.
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