In my many years in the business arena, I have worked with top international CEO's on their company strategy as well as having the opportunity to have a direct say on the internal strategy of the company I worked for. I have seen the dangers of both paying too little and too much attention to any business strategy change programme.

I have seen multi-million dollar companies with a frightening lack of regard for strategy. They live from one day to the next, ducking and diving and seem to have no plans for the future. I have sat in meetings with very successful companies, where the owners did not even have a two year plan. They simply had no vision for the future which is terrifying in a company of that stature.

I have also seen the opposite end of the spectrum – those companies who are so intent on creating and following strategy plans that they are completely immobilised. The top managers are focused on creating strategy giving them no time to run the business.

Strategy is only as good so far as it is followed. You can have the best strategy in the world but it comes to nothing if it is not implemented.

However, equally, you have to be capable of changing strategy if circumstances change and you should not follow it rigidly at all costs.