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Studies consistently show that most strategic plans fall short.
The reasons are varied, but a common mistake stands out: teams often assume they understand “strategic” planning, only to end up misguided, compromising their organizations’ success. Often, what they call a “strategic plan” lacks real strategic thought.
How Missteps Occur
If you’ve ever reviewed a company’s strategic plan, you’ve likely seen a list of ambitious goals. They may be grouped in catchy ways, but as you read through, doubts surface. Why?
You sense the organization may lack the resources or focus to achieve all these objectives simultaneously. The longer the list, the more you suspect it may be abandoned when daily issues arise, with lofty goals slipping out of view.
Redefining “Strategic”
One way to prevent this common pitfall is to rethink how we use the term “strategic.” Today, the label “strategic” is often used casually to signal importance, so much so that it’s lost its impact, and audiences tune it out.
This isn’t just a communication issue. When teams invest time in a strategic retreat, they expect the final plan to be truly strategic, yet often that’s not the case.
Typical brainstorming sessions encourage a mix of ideas and positive intentions without much structure. The result is often an extensive report of hopeful outcomes, which can look similar to other plans within the industry—ultimately, another reason for failure.
Enter the Strategy Triad
Peter Compo’s book *The Emergent Strategy* introduces a helpful redefinition of “strategic” by proposing a triad approach:
1. Aspiration: A meaningful, challenging goal that requires effort and won’t happen automatically.
2. Bottleneck: The main obstacle preventing the organization from achieving its aspiration(s).
3. Guiding Principle: A decision-making rule to help navigate actions that address the bottleneck.
Consider a store aiming to increase profits. If the biggest bottleneck is low brand recognition, the guiding principle could be to improve brand awareness through multiple channels—online, in-store, and through partnerships.
Applying the Strategy Triad
At a recent strategic planning retreat, a leadership team was challenged to apply the triad. Initially, it was difficult; identifying bottlenecks from new perspectives required collaboration and creativity, especially without cross-functional data, which led them to rely on firsthand experiences. Yet, they successfully defined bottlenecks and guiding principles that empowered employees to align their daily choices with the strategic plan. This alignment is what leaders want but is often rare.
Why Alignment is Rare
Leadership teams often avoid the challenging, healthy conflict required to build a robust strategy triad. They may take the easier path, creating lists of goals rather than diving into critical strategic planning. Alternatively, when discussions become too heated, leaders may intervene prematurely, cutting off debate and limiting essential buy-in.
To achieve meaningful alignment, it’s important to work through differing viewpoints until agreement is reached. Though challenging, this process builds the intellectual and emotional commitment needed for successful execution. By persevering through difficult conversations, leaders can significantly improve their strategic plans’ success and longevity.
Found this topic interesting? You may want to delve into my long-form content in my JumpLeap Strategic Planning Newsletter/Podcast.
Francis Wade
JumpLeap NewsletterPodcast
Framework Consulting
http://blog.fwconsulting.com : http://fwconsulting.com
Imagine you’ve joined a board, only to discover it’s deeply mediocre. This is your third meeting, and it’s becoming clear that the issues you sensed in the first two weren’t incidental—they’re ongoing. How do you address this underperformance?
Luckily, you aren’t the only one who’s noticed. Some members recognize that long-standing issues have held the board back for years, and while they’ve tried initiating change, nothing has stuck. These are complex, systemic challenges that won’t be resolved by casual discussions, pep talks, or a thoughtful email. Swift, strategic action is needed. But how?
I recently encountered insights from consultant A. Cecile Watson that shed light on why boards need their own strategic approach. Her perspective inspires these key reasons for why your board must implement a self-care plan.
Why Boards Should Prioritize Self-Examination
Boards are often envisioned as serving the organization’s needs. If all members align with this vision, things should function smoothly. Small differences can be ironed out, much like in the “Form-Storm-Norm-Perform” teamwork model, which illustrates the stages groups move through to achieve high performance.
However, boards today face a high-pressure environment, dealing with complex VUCA (Volatile, Uncertain, Complex, and Ambiguous) issues from the outset. While they might receive briefings, individual and group development often gets overlooked in the rush to deliver.
This traditional expectation—that boards serve swiftly, even if under-informed—faces scrutiny in Watson’s latest article. She argues that boards must practice self-reflection and strategy if they’re to excel. Smart people on a board don’t guarantee a high group IQ or EQ; in fact, group performance can suffer if proactive measures aren’t in place.
What does your board need? A new level of self-care. Watson suggests that boards operate as a kind of strategic unit, managing their performance preemptively. Failing to do so only perpetuates mediocrity.
The Case for Board Self-Strategy
Typically, boards focus on “strategic planning” for their organization’s future. Watson’s approach takes this one step further: boards must also strategize for themselves. As a unit, they need the space to address their own evolution.
This doesn’t mean ignoring corporate planning. In fact, I’ve previously recommended that board members actively engage in their organization’s strategic retreats, where they contribute to shaping long-term goals.
Yet, once these retreats end, some boards must adapt as well. For instance, one board I worked with chose to refresh its membership, reducing both the average age and tenure of its members to bring new perspectives aligned with the strategic plan.
In another case, a board had grown complacent. Members showed up sporadically, often unprepared. This lack of accountability permeated the organization, undermining its standards and culture.
Unfortunately, board evaluations alone rarely spark transformation. Instead, Watson advocates for a written Board Strategy, a guiding document that steers the board’s actions.
Creating a Strategy for the Board
Watson advises boards to define a vision for themselves and set measurable milestones to ensure the plan stays on course. While this may sound overwhelming for already busy board members, it’s ultimately about cultivating the right mindset, not rigidly following a checklist.
Adopting these principles can help your board become resilient, better equipped to navigate future challenges, and able to avoid the slow slide into mediocrity that affects many corporate teams.
Enjoyed these ideas? Consider checking out the JumpLeap Newsletter and Podcast with my best longform content.
Francis Wade
JumpLeap NewsletterPodcast
Framework Consulting
http://blog.fwconsulting.com : http://fwconsulting.com
The Caribbean media landscape is facing a critical financial crisis, intensified by a sluggish response to digital innovation and global media trends. Reports from sources like Jamaica Gleaner and BusinessuiteOnline highlight how companies such as Guardian Media Limited in Trinidad and RJRGLEANER in Jamaica are reporting substantial losses, driven largely by outdated revenue models and limited engagement with digital audiences. This lack of innovation has left them vulnerable in a competitive media market, prompting urgent calls for strategic shifts to prevent further declines
“The Caribbean media landscape is facing significant financial challenges, exacerbated by a lack of innovation and adaptation to digital trends. Reports indicate that companies like Guardian Media are experiencing substantial losses, with management criticized for not addressing revenue declines effectively.”
Key Issues Affecting Caribbean Media
Mounting Financial Struggles and Cost-Cutting Pressures: Advertising revenue, once a primary income source, has drastically decreased as advertisers increasingly allocate budgets to digital platforms like Google and Facebook. Many media organizations are also cutting costs without sustainable strategies for recovery, leading to operational downsizing.
“Nothing in the report suggests that top management has any plans to address the persistent decline in revenue. The only solution seems to be cutting fat. They are down to the bones now, looking to cut or shorten limbs, with no plans for long-term sustainability. Covering their incompetence with lots of fancy words and adjectives, that don’t mean anything.”
Guardian Media Limited in Trinidad reported a $10.2 million loss, emphasizing the extent to which the drop in traditional ad revenue has impacted its operations. Guardian Media has attempted aggressive cost-cutting but, as analysts note, cuts have reached a critical point where further reductions would threaten the company’s operational capabilities and quality of journalism
Meanwhile, RJRGLEANER Communications Group in Jamaica has also experienced the challenges of this shift, as they acknowledge the need for a more agile digital transformation but are constrained by legacy models that are difficult to abandon.
“Caribbean media has failed to invest in content that resonates internationally, limiting expansion opportunities”
Limited Global Appeal: Caribbean media companies have been slow to produce content that resonates with international audiences, particularly the Caribbean diaspora, which remains an untapped market. A narrow focus on local stories, while essential, has limited these companies’ ability to expand globally. This has resulted in missed opportunities for international partnerships and distribution deals, which could have diversified revenue streams.
Unlike international counterparts that have expanded into the Caribbean through acquisitions, local companies have yet to establish a footprint outside the region
Content and Engagement Limitations: A significant barrier to Caribbean media growth lies in content strategies that focus narrowly on local audiences. Critics argue that Caribbean media companies have largely neglected the potential to produce content with global or diaspora appeal, missing opportunities to enter international distribution channels.
Trinidad Express points out that global media companies have thrived by creating content that appeals beyond their national borders, allowing them to secure international distribution and build larger audiences. Caribbean media has yet to capitalize on this, partly due to a lack of investment in global storytelling and digital analytics
Slow Pace of Digital Transformation: The Caribbean media industry’s hesitancy to adopt a digital-first approach has hampered its competitiveness. While international media have embraced digital transformation, incorporating digital subscriptions and paywalls, most Caribbean media companies have been slow to shift.
BusinessuiteOnline observes that many regional media companies are still bound by traditional operational models, limiting their ability to tap into new markets and digital revenue opportunities. These challenges were intensified by the pandemic, which accelerated the global shift to digital media consumption, but many Caribbean media companies were unprepared to pivot quickly.
Potential Pathways to Recovery and Growth
Despite these challenges, several strategic avenues could foster a resurgence in Caribbean media if adopted with urgency:
“Embracing digital-first strategies is crucial, as highlighted by industry leaders advocating for agility in adopting new technologies”
Digital Transformation: Embracing a digital-first strategy is crucial. Industry leaders and media analysts suggest that Caribbean media must adopt new technologies, such as digital subscriptions, paywalls, and mobile apps, to attract and retain audiences. The pandemic accelerated the global shift to digital, but Caribbean media has struggled to keep pace. RJRGLEANER’s leadership has recognized the need for agility in this area, yet implementation has been slow and hampered by existing legacy structures.
Digital Subscription Models and Paywalls: Many global media groups have succeeded with subscription-based revenue models, a strategy Caribbean media could emulate. Implementing paywalls for premium content or creating tiered access could tap into both local and diaspora markets, providing a consistent income stream from audiences willing to pay for quality, exclusive content.
Content Innovation and Global Appeal: Developing unique, globally appealing content is essential for Caribbean media to stay competitive. By tapping into Caribbean culture, history, and current affairs that resonate on a universal level, these companies could attract international interest and potential partnerships. Content that appeals to both local and international audiences—particularly the Caribbean diaspora—would not only expand reach but also create new revenue streams through licensing and distribution deals.
“Content Innovation: Developing unique, globally appealing content could attract international partnerships and revenue streams.”
Developing Caribbean content with universal themes that resonate internationally can attract both audiences and distributors. Unique Caribbean stories and cultural narratives have substantial potential in the global content market, and with the right marketing and distribution efforts, these stories could appeal to Caribbean diasporas and beyond.
Technology and Distribution Partnerships: Caribbean media can explore partnerships with tech giants like Google and Facebook, which could help increase content reach and tap into ad-sharing revenue. Such partnerships could also help overcome local infrastructure challenges, providing regional content with a larger, global platform.
Investing in Data Analytics: The use of audience data and analytics could transform content strategy, allowing Caribbean media to produce more targeted, relevant, and engaging content. Data-driven decisions not only improve audience retention but also increase ad revenues by offering advertisers better-targeted placements.
“Failed media in the Caribbean is now a crisis. Most major corporate companies over the last few months have announced international deals either on distribution or acquisition. Caribbean media have failed follow expansion in new markets. The management of these companies have displayed bankrupt ideas.”
Learning from International Media Successes and Local Implications
International media companies have responded to similar challenges by investing in multimedia content, restructuring for digital efficiency, and focusing on audience analytics. Caribbean media can adapt these strategies by training staff in digital media, creating multimedia content, and exploring additional revenue streams such as events, merchandise, and branded content.
“That’s because they have something to distribute. Caribbean media have failed to invest in content with global appeal, hence the absence of international deals. Leadership still stuck in traditional models, while the rest of the world is moving ahead.”
The response of international media companies has starkly contrasted with the approach of local Caribbean firms. Companies such as One Caribbean Media and Trinidad Express have witnessed international media players entering their markets through acquisitions and distribution partnerships, leveraging global capital to establish a strong presence in the Caribbean. This expansion underscores the potential for digital-first approaches in the region and highlights the urgency for local media to rethink their business models if they want to remain relevant. With global media’s entry into the region, Caribbean firms are now under pressure to innovate or risk being overshadowed by larger entities with stronger digital and financial foundations.
The challenges facing Caribbean media are complex but not insurmountable.
By embracing digital transformation and investing in globally resonant content, Caribbean media companies can position themselves to engage a broader audience, stabilize their revenue streams, and retain relevance in an increasingly digital world. This transition requires a commitment to both innovation and global engagement—an investment that could transform Caribbean media from struggling local institutions into influential platforms that capture and convey the region’s unique stories on the global stage.
“This shift emphasizes the need for Caribbean media to rethink their business models and strategies to remain competitive in a rapidly evolving market,”
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