“A great strategy implemented through poor meetings carries a high risk.” - MindMeeting
You wouldn’t ask your accountant to design your website.
The office manager probably isn’t in charge of your cyber security either.
Why, then, do we insist on designing our own strategy meetings? Especially when - as is often the case for strategy meetings - they’re so important to our success?
The pitfalls of a poorly planned strategy meeting
Let’s take the “Acme Corporation”, from Champaign, Illinois. Acme makes high-end tableware. They’ve just acquired their former competitor, “Spoonfull”, and are holding a 2-day meeting to align their top-100 management and executives around the combined company’s new strategy.
The Acme Board of Management’s goal is for everyone to understand the strategy and to get enthused by it. They’ve secured a rather exclusive venue, with splendid food, great drinks and a golf course.
During the day, all board members will deliver presentations, explaining the strategy and underlying figures, as well as the implications for activities such as production, sales and marketing.
A renowned guest speaker will give an outsider perspective on the importance of strategic thinking. If there’s enough time, there might be a quick Q&A after each session. To conclude, the Chairman will join to provide extra motivation. After that, it’s time for fun, drinks and dining. Sound familiar?
This clearly qualifies as a strategy meeting. Acme is integrating an acquisition and announcing a new strategy, after all. In fact, the company’s future depends on the success of meetings like this one. So why haven’t they given it the consideration and planning that it deserves?
Image courtesy of Unsplash
When should you have a strategy meeting?
Aside from the example above, you may have a strategy meeting when:
- introducing new company-wide systems
- opening up completely new product lines or services
- opening up to new markets
- targeting wholly different client segments
- implementing a different business model.