Top Five Reasons Strategic Plans Fail

Experts such as Kaplan and Norton tell us that up to 70% of strategic plans fail at execution. This startling statistic catches most managers off guard. With such a dismal record, it’s no wonder many managers shy away from strategic planning altogether. There can be many reasons for this failure to execute, here are my Top 5:

  1. Lack of clarity around strategic goals
  2. Lack of prioritization of key initiatives/proliferation of initiatives
  3. Inadequate measures and data collection missteps
  4. Inadequate attention paid to the Learning and Growth perspective (this is foundational)
  5. Inadequate leadership

All of these barriers need to be addressed at the planning stage and remedies included in the Strategic Plan.