Jobs flipped it around and focused on the details—what consumers actually want and need. Lee Iacocca did the same thing with the minivan. Everyone pushed back, saying families wouldn’t want a boxy car, but he zeroed in on what people would actually use. It ended up revolutionizing the car industry. Sometimes it’s not about chasing the big idea; it’s as simple as figuring out what people really need and making that happen.
This is my favourite topic. Always starts with customer needs, and they are manifested through what they say and how they act. A careful observer will always find a great idea by observing them and talking to them.
Believing that we can set a long-term goal and then achieve it exactly as it was set is self-deceptiveness. Such things happen, but a broken clock is right twice a day.
Thanks for addressing this important topic. Your exploration of the pitfalls of BHAGs and long-term goals resonates deeply, especially in the fast-changing business environment we find ourselves in today. It’s true, the unpredictability of the future makes it dangerous to anchor too heavily on goals that might lead us into a dead end, as your examples with Ford and GM illustrate so well.
That said, I’d like to add a few reflections. While I agree that long-term goals can sometimes become blinders, I still see value in setting short-term goals - especially at the "strategy execution" level. These goals serve as a framework to keep teams focused and ensure milestones are achieved. Execution thrives on clarity and direction, and that’s where short-term goals shine.
Strategically, I believe organizations need to build adaptability into their processes. Rather than reviewing their goals once or twice a year, there should be a structured, frequent review cycle - quarterly, at the very least - to evaluate the relevance of both mid-term and long-term objectives. This way, they can pivot as needed without losing momentum.
To summarize, in my opinion strategy should remain flexible and focused on broader directions, while execution needs the rigor of clear, short-term targets. Combining both approaches ensures we don’t lose sight of the bigger picture while still making tangible progress.
Many thanks for the comment! In my experience, the longer-term a goal is, the less SMART it should be. Strategic goals are directions, principles we stick to during the strategy implementation. Short-term goals should be concrete, specified, and measured.
Jobs flipped it around and focused on the details—what consumers actually want and need. Lee Iacocca did the same thing with the minivan. Everyone pushed back, saying families wouldn’t want a boxy car, but he zeroed in on what people would actually use. It ended up revolutionizing the car industry. Sometimes it’s not about chasing the big idea; it’s as simple as figuring out what people really need and making that happen.
This is my favourite topic. Always starts with customer needs, and they are manifested through what they say and how they act. A careful observer will always find a great idea by observing them and talking to them.
Having an aspirational goal is good, but they have a way of becoming a ‘must do’ requirement. Heads will roll if we don’t hit it.
A direction that’s constantly adjusted is better, but it’s hard to convince some people.
Believing that we can set a long-term goal and then achieve it exactly as it was set is self-deceptiveness. Such things happen, but a broken clock is right twice a day.
Thanks for addressing this important topic. Your exploration of the pitfalls of BHAGs and long-term goals resonates deeply, especially in the fast-changing business environment we find ourselves in today. It’s true, the unpredictability of the future makes it dangerous to anchor too heavily on goals that might lead us into a dead end, as your examples with Ford and GM illustrate so well.
That said, I’d like to add a few reflections. While I agree that long-term goals can sometimes become blinders, I still see value in setting short-term goals - especially at the "strategy execution" level. These goals serve as a framework to keep teams focused and ensure milestones are achieved. Execution thrives on clarity and direction, and that’s where short-term goals shine.
Strategically, I believe organizations need to build adaptability into their processes. Rather than reviewing their goals once or twice a year, there should be a structured, frequent review cycle - quarterly, at the very least - to evaluate the relevance of both mid-term and long-term objectives. This way, they can pivot as needed without losing momentum.
To summarize, in my opinion strategy should remain flexible and focused on broader directions, while execution needs the rigor of clear, short-term targets. Combining both approaches ensures we don’t lose sight of the bigger picture while still making tangible progress.
Many thanks for the comment! In my experience, the longer-term a goal is, the less SMART it should be. Strategic goals are directions, principles we stick to during the strategy implementation. Short-term goals should be concrete, specified, and measured.