The good news? Many companies have finally decided that they can’t just wait for the recovery to come to them. After all, it might not!

The bad news? Many are latching onto misguided methods for plotting their course. If you’ve been around, as I have, you’ve probably witnessed these scenarios.

1. Brainstorm and Vote
The exact process varies but it boils down to creating a big list of everyone’s ideas and picking the favorites. Strategic planning should not be a popularity contest. Nor should your choices be limited to a random assortment of ideas, many old, many in the news, and most constrained by current assumptions and beliefs about the organization,  the competition, and the market. 

2. SWOT – Strengths, Weaknesses, Opportunities, Threats
While brainstorming in four boxes is an improvement over one, SWOT still has all the limitations of brainstorm-based thinking. It provides too little opportunity to shift thinking and break current perceptions. You don’t want to consider threats and opportunities only as they relate to your current state. Furthermore, you don’t want to give internal affairs, especially weaknesses, such prominence. Strengths are developed and weaknesses can be overcome. What counts is identifying the right opportunity and understanding what it means to your market, business model, competition, and operations.

3. Quick, While It’s Cheap!
When my brother was little, my grandmother bought him a then-clever and incredibly cheap T-shirt. “Here Comes Norm” adorned the front, and, you guessed it, “There Goes Norm” graced the back. The only problem was, my brother’s name is Scott. The way some companies are acquiring other companies and assets these days reminds me of this story. Strategy must come first. Don’t let the tail wag the dog.