Lack of Strategy
What does lack of strategy mean?
Lack of strategy is when a business does not have any road map to follow or refer to when pursuing opportunities and running daily operations.
A business can face severe consequences when it lacks of strategy.
It would mean that the company lack of objectives, resources that are not properly allocated, unclear organizational structure, and/or not a good communication flow.
Definition of strategy
According to Harvard Business Review, 'a strategy involves a clear set of choices that define what the firm is going to do and what it’s not going to do'.

Return to Glossary of business failures or read "Lies and Manipulation".
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Last edited on 6 January 2022.