I came across this video recently while searching for something else, and I thought it made pretty good sense. Two main takeaways for me were that Good Strategists have it in them to choose Bad Strategies, because they think those strategies are Good Strategies. I go a step further and say that it is because they Choose to be led into thinking that those Bad Strategies are actually Good Strategies.
The next takeaway I got is that it all boils down to overconfidence. Mark Chussil says it nicely. I say it like it really is – it all boils down to pride, plain and simple. Ego getting in the way of clear thinking, losing money for stakeholders, but hopefully not paid for in blood.
It is up to us to ensure that the formulation and execution of our strategies does not earn us a place in the Hall of “Famous Last Words.” No, I won’t see you there.