A final hallmark of mediocrity and bad strategy is superficial abstraction—a flurry of fluff—designed to mask the absence of thought. Fluff is a restatement of the obvious, combined with a generous sprinkling of buzzwords that masquerade as expertise.
Here is a quote from a major retail bank’s internal strategy memorandum: “Our fundamental strategy is one of customer-centric inter mediation.” Inter mediation means that the company accepts deposits and then lends out the money. In other words, it is a bank. The buzz phrase “customer centric” could mean that the bank competes by offering better terms and service, but an examination of its policies does not reveal any distinction in this regard. The phrase “customer-centric intermediation” is pure fluff. Remove the fluff and you learn that the bank’s fundamental strategy is being a bank.
ACTION POINT: Good strategy requires deep thought and can be communicated simply and clearly.
1 comment:
Best.
Post.
Ever.
I also love how there's no fluff in it :)
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