Why Are CEOs Still Screwing Up These 5 Key Strategic Decisions?

“In today’s fast-paced world, even the most seasoned leaders sometimes lose sight of the basics, making critical errors in areas where they should know better.” — Sarah Schlott

Let me be real with you for a second. Have you ever wondered how some of the most successful people—CEOs of massive companies, mind you—still manage to mess up? I mean, they’ve got it all, right? The fancy degrees, the experience, the big bucks. So why are they still getting it wrong when it comes to key strategic decisions? Trust me, I’m just as baffled as you are. It’s 2024, people—how are we still having these problems?

But hey, instead of just throwing shade, let’s break it down. These are the top five strategic decisions that CEOs keep screwing up—and why it matters to the rest of us.

Table of Contents:

• Misreading Market Trends and AI’s Role
• Ignoring Cross-Functional Input
• Failing to Navigate Risk Effectively
• Overlooking Strategic Partnerships
• Neglecting Employee Development and Talent Retention

1. Misreading Market Trends and AI’s Role

Okay, here’s the thing—AI is literally everywhere. And yet, some CEOs are out here acting like it’s 2014, not 2024. Integrating AI into decision-making isn’t just smart; it’s a no-brainer. Still, only 7% of companies are using AI for big strategic decisions. Yeah, you read that right—7%! How is that even possible? Fear of over-reliance? Maybe. Or maybe they just don’t get it.

Real Talk:
If you’re in a leadership position and not using AI, you’re leaving money on the table. Period. AI can spot trends faster than we ever could, so why not use it to your advantage? You don’t have to let it run the show, but if you’re not integrating it into your strategy, what are you even doing?

2. Ignoring Cross-Functional Input

You know those silos everyone talks about breaking down? Yeah, they’re still there. And guess what? They’re messing things up, big time. Some CEOs seem to think they can make decisions in a vacuum without checking in with other departments. Spoiler alert: that never works.

Real Talk:
Get everyone at the table. Collaboration isn’t a buzzword; it’s how you avoid disasters. A huge tech company recently botched a product launch because they didn’t listen to their logistics team. The result? Delays, extra costs, and a lot of finger-pointing. Don’t be that company. Get input from every corner of your organization.

3. Failing to Navigate Risk Effectively

Look, we all know that taking risks is part of the game. But there’s a difference between calculated risks and straight-up ignoring the potential pitfalls. In today’s world, the risks are getting more complicated—cybersecurity, regulations, geopolitics. If you’re not actively managing these risks, you’re setting yourself up for failure.

Real Talk:
Do your homework. Use tools like PESTLE analysis to see what’s coming around the corner. Look at what’s happening in the world right now—companies that ignored geopolitical risks are now scrambling. Don’t let that be you. Stay ahead by understanding the risks and preparing for them.

4. Overlooking Strategic Partnerships

Strategic partnerships can be game-changers if done right. But too many CEOs either rush into them or ignore them altogether. Either way, it’s a mistake. Partnerships can provide growth opportunities that you can’t achieve alone, but only if you approach them with a clear head and a solid plan.

Real Talk:
Don’t jump into bed with just anyone. Do your due diligence. Make sure your goals align and that there’s real synergy there. We’ve all seen those high-profile mergers that crashed and burned because no one bothered to check if the cultures would mesh. Don’t make that mistake. Take the time to do it right.

5. Neglecting Employee Development and Talent Retention

Here’s the deal: your people are your biggest asset. Full stop. Yet, some CEOs still don’t invest in their talent the way they should. We’re talking high turnover, low morale, and, ultimately, poor performance. And in 2024, when talent is harder to retain than ever, this just doesn’t fly.

Real Talk:
Invest in your people. Offer training, mentorship, and clear paths for advancement. If you’re not helping your employees grow, they’ll find someone who will. Companies that ignore this are already feeling the pain, struggling to keep up with innovation because they’re constantly losing top talent.

Final Thoughts

CEOs are facing more pressure than ever to get it right, but that doesn’t mean they’re immune to making mistakes—big ones at that. Whether it’s misreading market trends, ignoring cross-functional input, failing to manage risks, overlooking partnerships, or neglecting talent, the consequences are real. The good news? These mistakes are avoidable. By learning from these common missteps, you can set yourself and your company up for success.

If you found this article helpful, do me a favor and share it on social media. Let’s get the word out so more people can avoid these all-too-common pitfalls.