Dr. Joe is off this week, but we thought you would like to read one of his previous colums which has particular relevance as we near the end of a difficult year.  This column was originally published May 19, 2006.  The original column can be located here. 

I finally got to one of those books in my “to read when I find some time” pile, Strategy Bites Back, published in early 2005. The principal author is Henry Mintzberg, whose Rise and Fall of Strategic Planning, published in 1994, skewered, barbecued, and devoured the strategic planning process quite mightily. This newer book does so in a far more entertaining manner. It is a collection of short articles and excerpts craftily assembled for one purpose only: to make one think.  I recommend reading it, and here’s why.

Over the past year and a half, I have had numerous conversations with vendors and printers as they describe the trends in their individual businesses.  Many have expressed deep concern for their companies and their ability to forecast what's ahead for them. The executives who have whispered in my ear feel that commonly available market sizing and much of the published industry data are too optimistic. The aggressive sales plans they have deployed based on those optimistic data are hitting the wall of marketplace reality. Since so many of their internal forecasts have been too high, this has caused them to constantly scramble, scrutinizing even the most minute expenditures and endlessly reallocating resources because of revenue shortfalls.