Strategic planning mistake #1: The generic mission statement

There are few things more painful or dreaded than the development of a company’s mission statement. (Followed closely by budgeting).

Typically, mission statements are developed by committee (big mistake). A team of people crowds around a table or a whiteboard debating the inclusion, exclusion, and nuances of every word. The very thought of it is enough to drive the hardiest soul to drink (or at least to pop a few aspirin).

Beware of charismatic business leaders

From Article in November 2009 Organization Science

Charisma is undoubtedly a coveted trait in business, especially for those in (or aspiring to hold) leadership positions. A charismatic leader can rally customers, employees, shareholders, board members, and key constituents, around his or her vision and take a company to great new heights. In times of trouble, a charismatic leader is almost a necessity.

But what about the downside of charismatic leadership? What happens when charisma misleads?

When strategic plans are “frustratingly vague”

Getty Museum Example

As the new year starts, many companies are beginning to prepare for their annual strategic planning efforts. Too often, though, the results of these efforts fall within the “too vague to execute” realm or the “too specific to be flexible” when the inevitable challenges and opportunities emerge during the plan’s execution.

An example of the detrimental effects of “too vague to execute” strategic plans is illustrated in a Los Angeles Times story on the resignation of popular Getty museum director Michael Brand, and his dispute with his boss, J. Paul Getty Trust President James Wood.