Many years of working and consulting in the business strategy area has revealed eight common characteristics about the conduct of senior management.
These characteristics are:
- Managers often lack a clear articulated statement of corporate vision, business purpose and direction.
- “Objectives” and “strategy” are misused terms.
- Much time is devoted to setting numbers. Little time is allocated to articulating how they are to be achieved.
- The trends and consequences of changes in the macro environments (within which these numbers are to be achieved) is largely unknown and uncharted.
- The qualities by which key customers judge supplier value is unresearched and therefore largely ignored.
- The maturity of customer demand for the supplier’s particular solution is largely unknown.
- The ability of industry contestants to out-class each other in the minds of customers is not understood.
- For industrial companies the role of the ultimate consumer in determining the demand for their products is largely unknown.
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