How a Good Strategy Can Fail
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I used to think that a great strategy was a sure-fire recipe for success. I thought that the “right” approach would fix all our problems, and we’d end up on top of the heap. It turns out that’s not always the case. There are a number of common mistakes that can kill a strategy—some lessons are hard-learned, and others are harder to learn the hard way. When a great strategy doesn’t work, it’s usually because we didn’t implement it correctly or failed to adapt to the unexpected.
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As an investor, I once followed a highly successful strategy. It worked great for a while, but I began to notice that the stock was losing momentum, as if the market had decided to go on a downward trend. I decided to revisit this strategy, but I felt the need for some fresh, new insights. After all, a well-thought strategy should be continually tested and adjusted to stay ahead of the market, no? Well, the answer was not to revise the strategy, but rather to revise my own approach to it. I realized
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I wrote a strategy about how to win a game of pool at a sports bar. The game is simple, the goal is to sink as many balls as possible into a set of racks before your opponent wins by collecting as many as possible and losing all the balls in the middle. The first thing to know is that strategy is a matter of choice. There’s a right and wrong way to play a game of pool based on how you want to win and how much money you’re willing to spend. My strategy was to target the high-volume balls
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For years, the strategy that we used to run our company was a good one. It allowed us to stay ahead of our competitors, to expand our customer base and generate growth. The people who worked for us were enthusiastic, and the technology was the best in the industry. We had our head office, our research and development center, and a strong network of sales and support offices all over the world. But it all started to fall apart in the last few years. We had a few reasons for it. First, we had a new CEO who had his own
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> As you might know, a good strategy for a company to get the best performance is vital. It’s essential to understand the importance of such a strategy to get more benefits for the company and for the company to grow. It’s essential to find the right solution to fix the strategic weakness of the company. However, when you come to realize that it was not the right approach, then you have to realize that there will be some consequences. It is like the scenario when the car driver tries to reach from point A to point B, but he is running away from the
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“In the early 1990s, when I started my software company, I didn’t have a strategy. I didn’t have any clear goal, product to develop or customers to serve. But I was excited and determined. I thought I was different from other companies and I had the courage to take risks. find this My first product was a software solution for a bank, an unconventional one. It was called “BankSoft,” and was designed for banks with less than 50 employees. The software was very expensive, but it was