Eight Reasons Why Business Plans Fail

Eight Reasons Why Business Plans Fail

Eight Reasons Why Business Plans Fail

CEOs and C-suiters really don't want to be known as the architects of a new vision that falls flat.
Many companies talk about their commitment to innovation, but when it comes time to offer up ideas and launch a game-changing business plan, things wilt and die.

In the book, "The Business Model Innovation Factory: How to Stay Relevant When the World is Changing," (Wiley/available now) author Saul Kaplan argues that many organizations have grown complacent. To be competitive in today's tough marketplace, companies have to anticipate market changes and create new, dynamic and disruptive business models. These can help businesses stay relevant in the eyes of today's consumers. Kaplan contends that a large part of the problem stems from the top: Historically, CEOs have overseen just one business model, but today, they must encourage managers and employees to design and experiment with creative change. Kaplan is the founder and chief catalyst of the Business Innovation Factory (BIF), a laboratory that explores and tests new business models and social systems.

Dennis McCafferty is a freelance writer for Baseline Magazine.
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