Don't Overstretch your Strategy

Stretch Goals
Knowledge Center

 
Stretch Goals > Forum

New Topic


Bernhard Keim
Business Consultant, Germany
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 is very hard to reach for a company that is already in trouble, because it means not only working harder, but differently. And it needs resources (...) Read more? Sign up for free

 

More on Stretch Goals
Summary
Forum
🔥Golden Rules for Taking on Stretch Assignments
Don't Overstretch your Strategy
Quotes on Goals and Setting Goals
Disadvantages of Setting Stretch Goals
Examples of Stretch Goals
Special Interest Group

Are you interested in Stretch Goals? Sign up for free

Notify your students

Copy this into your study materials:

and add a hyperlink to:

Link to this discussion

Copy this HTML code to your web site:


Stretch Goals
Knowledge Center

 


About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2021 12manage - The Executive Fast Track. V15.7 - Last updated: 22-1-2021. All names of their owners.