We have seen over the last few months that many well-known businesses have been conducting strategic reviews. Tesco (including a new CEO who interrupted his holidays), Marks and Spencer and Mothercare come to mind. There are many more. We constantly emphasise to our clients that they should constantly conduct out strategic fitness tests. Very often, when this is done against a backdrop of falling revenues and profits and market share loss, it is probably already too late.
Strategy matters! Far too often Boards neglect those discussions because the Board agenda is already full of other important items. We therefore constantly question our clients on how much time the Board is spending on real strategic issues. Are the real difficult questions being asked?