Pay Attention, Every Day!

“Plan your work, work your plan.” is a problem when management does not track performance against plan.  The bigger the gap between performance/plan creates a greater need for change.  So the longer there is denial or inattention to that gap, the bigger the crisis will be.  Strategy needs to be created with broad input from and broad communication to all stakeholders. Consistent strategy requires constant performance assessment that everyone can see.  Management is supposed to drive that information flow that encourages constant adaptation to market reality.  If the board does not demand that information or causes management to fear delivering it, the gap between the board and management will grow.  This applies to this story’s three companies’ succession approaches.  The faster rate of change in an industry requires faster company responses to it.

CEO Secession Comparison Story