12 business strategy failures

Adopting a business strategy is great. The key to this success is adopting the correct business strategy. To simply try a strategy on for size often doesn't succeed.

Here are 12 reasons for top business strategy failures:

1. Not understanding what a strategy is.
2. Focusing on results first, not focusing on the strategy.
3. Just going through the motions of developing a strategy plan.
4. Not being passionate about the strategy.
5. Not understanding the target audience.
6. Not understanding the environment.
7. Not recognizing market trends.
8. Overestimating the capacity of the business.
9. Not having a clear focus on a powerful, value proposition.
10. Lack of broad involvement.
11. Resisting change.
12. Having the wrong people in leadership roles.

Focus on the knowledge of the topic. When change happens quickly, opportunities once presented can vanish fast. Keep your options open.

Strategy-Keys.com was the source for this entry.