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The Year Is Half Over…Do You Know Where Your Strategic Plan Is?

CO2 Business Leadership

According to Robert Kaplan, creator of the Balanced Scorecard, the main cause of strategic planning failure is poor execution. And Kotter International determined that, on average, 70% of new, large-scale strategic initiatives fall short of their goal, as did a similar McKinsey & Company 2009 study.

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Contingency Planning | N2Growth Blog

N2Growth Blog

While this is understandable, it is nonetheless naive, and it constitutes a major flaw in the business logic of most strategic plans. This is so much the case that the most often overlooked aspect of strategic planning is adequately addressing contingencies as part of the planning process.

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When to Restructure | N2Growth Blog

N2Growth Blog

What do great CEOs do when the business model, the strategic plan, and the revenue hurdles don’t seem to be in alignment? They make changes. They don’t sit idly by and watch the business lose market share, suffer margin erosion, see their competitive value propositions vaporize, or watch their brand go into decline.

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The Hockey Stick Growth Model – A Blueprint for Business Success

Sunflower Lab

For instance, Facebook went through the Blade Years stage in 2007 and then experienced the Growth Inflection Point through 2009. Each stage represents a distinct phase in a company’s growth journey, with its own set of challenges and objectives. Airbnb followed a similar trajectory and achieved Surging Growth from 2013 onwards.

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Business Model Architecture | N2Growth Blog

N2Growth Blog

Furthermore, a business plan, strategic plan, marketing plan, capital formation plan, exit plan, etc., Also, a common response is to confuse a sales engine, fulfillment process, operational process, technology platform, or any number of other areas as business models, where this is not the case.

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Navigate Your Path to Success

Women on Business

In this fast paced business environment, people are just too busy to seek you out so you need to strategically plan how to create your visibility, how best to communicate your value proposition and to whom. Without this GPS or strategic plan, you are quite simply less likely to reach your career destination.

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Don’t Eliminate Tension, Harness it

Steve Farber

Runyon, for instance, remembers a time when he and his team would get “caught up in a cool idea and just run off and try it” without any solid business planning. As the company has grown, he said, he’s learned to self-edit ideas and value a tighter, better processes for strategic planning, budgeting, and forecasting.