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Even in large, wealthy corporations, very few senior leaders have discretionary
funds. The plan will unfold within the budget, and folks always say "you
cannot predict tomorrow." A key to successful strategy formulation is being flexible and clearly assigning responsibilities.
Flexibility
- How long until the strategy pays for itself?
- How and how often will we
get feedback on the plans progress?
- Is the plan at the right level of
detail?
- How much contingency funding needs to be set aside?
Accountability
- Are the goals explicit, clear?
- Has the responsibility and accountability
been delegated?
- Does the strategy align with our incentive system?
- Have
the key players committed to the plan "eyeball to eyeball?"
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