Why most strategic plans fail just as often as New Year's resolutions

"Not only does a lot of money change hands as part of this process, but the amount of time that employees invest in working on the plan likely doubles the cost of the entire process. In the end, leadership gets a shiny report they can send to employees, shareholders, external stakeholders, and others. Often, though, much less money and time is invested in implementing that plan than was spent creating it."

"The central problem with strategic plans is in the name itself. Every organization needs to be concerned both with strategy and tactics. Strategy defines the north star for the organization. What are the big-picture elements you're trying to accomplish? Tactics is the method for getting there. What specific steps are team members going to take on a daily, weekly, and monthly basis that will lead to the desired outcome. Ultimately, a strategy is unlikely to meet with success without a tactical plan to get there."

Strategic planning consumes significant financial resources and employee time, often producing a polished plan that receives less investment in implementation. Leadership frequently ends up with a report while execution receives insufficient follow-through, fostering cynicism. The phenomenon resembles New Year's resolutions: ambitious goals set with enthusiasm that fade without concrete habits. Strategy should define the organization’s north star, while tactics must specify daily, weekly, and monthly actions. Successful outcomes require aligning resources, accountable teams, and clear tactical plans so that strategic goals are translated into sustained operational activity and measurable progress.

Read at Fast Company