1.
The
CEO is not committed to the process
a.
If the CEO is not
committed to the plan, how can you expect management to be committed to it?
Lack of full commitment gets the process off to a bad start, one that is
destined to get worse.
2.
The
plan is not created collaboratively
a.
When management and
staff are told “this is it, now get going,” no one will take ownership of the
plan.
b.
Without as many people
as possible / practicable involved in the creation of the plan, the staff won’t
take it seriously because it won’t be relevant to them.
3.
The
CEO fails to make sure the right people are responsible for implementation of
the plan
a.
If you don’t have the
right managers in the right positions, success will be very elusive.
Otherwise, you are depending on luck when hard skills are required
4.
The
CEO does not oversee / manage the process
a.
Without oversight from
the top, managers will resort to processes that are familiar to them, whether
or not they are in tune with the new plan.
b.
The plan soon becomes
a vague notion of its original form.
5.
No
metrics, or poor metrics, are created so that progress, or the lack of same,
cannot be measured properly
a.
Your managers will not
be informed of what they doing well, nor where they are deficient.
b.
Without tangible
evidence, your people will feel as if they are running in place, and thus,
never win the race.
6.
A
lack of communication from top down and down up
a.
Without two-way
communication, the plan ceases to be a plan, and instead becomes an
announcement.
7.
Don’t
review and / or update your plan on a regular basis
a.
Continuing to
implement an old plan in a changing business landscape will ensure that new
customers, with new needs, will not bother with you.
b.
It also means that
your innovative and visionary employees will be seeking jobs elsewhere.
8.
Don’t
share the rewards of a successful plan with your employees.
a.
If you think they
should simply be happy to have jobs, then you will have a team of people
looking to do the minimum required to get paid.
9.
Don’t
delegate responsibility
a.
When the CEO tries to
do everything himself / herself, it undermines the morale of the managers. This
weakens the entire organization.
10. Don’t hold people accountable
a.
If you don’t hold your
people accountable for executing the plan, then when it fails, the plan gets
the blame.
b.
Non-performers keep
their jobs and continue to non-perform, and the plan gets kicked to the curb.
Now, if you do exactly
the opposite of what is listed above, your chances of creating
and implementing a successful strategic plan are much improved.
The CEO must be
involved in the process of the plan’s implementation. Working with the managers
for mutual success is an essential part of the whole process. Successful
businesses cannot operate in a vacuum. Communication has to be a
two-way street. All members of the team must be informed of their
progress. The more communication, the better for everyone. But communicate the
important stuff; don’t inundate your team with info that they can’t use.
Remember that a
strategic plan is a living, breathing document. The world changes, and so
should your plan. An annual plan review, at minimum, is necessary.
Quarterly would be better!
Monetary rewards and
teamwork are the essence of a successful plan. Your people should be rewarded
for a good job, but with the full understanding that not meeting the goals
means not receiving rewards.
Finally, once a plan
is created, communicated, and implemented, you must let your managers
manage. Don’t worry, there are plenty of other things for the CEO to do!
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