All about Stretch Goals
Learn from colleagues and experts
Join now. Completely free.
Log in
|
Don't Overstretch your Strategy Bernhard Keim, Business Consultant, Germany, Premium Member
Often stretch goals are abused to push people for unrealistic goals. In that case employees see stretch goals as a threat, not a challenge they feel confident about.
Likewise, in strategy analysis, a good strategy is a strategy that not only fits a company's wishes, but its (cap-)abilities as well. If your strategy is too ambitious and is asking for the "big stretch" especially to make fast-turnaround happen, it may not work.
Sitkin e.a. dedicated an article in HBR (January 2017) to the problems stretch goals might cause in strategy. Companies that try - and fail - are usually in trouble already. Whereas the companies that could benefit from pushing themselves - those with strong recent performance records and resources to spare - start to be complacent and therefore avoid stretch goals. Success has made them risk-averse.
A stretch goal...
|
|
|
|
|
|
Special Interest Group Leader
|
|
|
Stretch Goals
|
|
|
|
|
|
|