Research has shown that, unfortunately, corporate strategies are more likely to fail than succeed and those strategies that include a large technology component (such as ‘digital transformation’) are even less likely to succeed.
Contrary to claims by consultants and academics, Strategy is hard, strategy is risky, and because change is ever-present, strategy is inevitable, and ceaseless – strategy is not a Destination it is a Springboard.
Perhaps the most difficult decision any board has to make is to choose a Strategic Position, or where the firm should be in 5-10 years. Such a decision is fraught with a multitude of risks and failure to manage those risks will doom any strategy to failure.
Dr. McConnell’s presentation describes some of the concepts, tools and steps that MUST be taken to improve a board’s decision on selecting an achievable, viable and sustainable Strategic Position.