It never ceases to amaze me that 80% to 90% of organisations fail to execute their strategies, as reported by several studies from The Economist, McKinsey, and others. There are myriad reasons behind this alarming statistic, and in this book, we aim to address many of these challenges.
One reason that particularly stands out is the tendency to scatter efforts across too many tasks and pursue numerous goals simultaneously. It's akin to piling too much on our plates. This insatiable appetite for action and multitasking becomes our greatest adversary.
In the realm of strategy (and life in general!), when we attempt everything, we often accomplish nothing. Whether you're you, me, the President of China, or the King of Spain, we all operate with finite time, resources, and attention spans. Our daily lives are already packed to the brim, and now, on top of this whirlwind existence, we introduce an incredibly ambitious plan brimming with an endless array of actions and priorities. Let me venture a guess: this strategic plan is destined for failure, much like the majority of them.
As Michael Porter aptly stated, "Strategy is choice." The core of a sound strategy lies in making clear, focused, and simple choices. A good strategy must pinpoint the key areas to concentrate on. It must ruthlessly streamline our actions to the essentials. It must emphatically reject many other commendable ideas. A good strategy compels you to grapple with the most crucial, and at times, arduous trade-offs. Far too often, due to time constraints or the exertion of compromise, organisations shy away from making these tough decisions, thus sentencing themselves to overwhelming busyness and almost certain failure.
Consider each new strategic theme, initiative, or objective as a substantial burden, demanding your organisation's time, your executives' calendar slots, your team's specialised resources, and your finance director's substantial budget.
Strategy Myth debunked: quantity in strategy does not equate to quality. Strategy is about making choices. Strategy is about discarding many good but not great approaches to unravel the puzzle before us. You must summon the courage to make these tough decisions. Only then will you do an exemplary job. Even though strategic problems can be remarkably intricate, their solutions should be straightforward and lucid. FOCUS!
Author: Anael Granoux