Take the quality and speed of your strategy work to a new level with these 10 levers
Your Strategy Development and execution cycles need acceleration. (Image: shutterstock.com/Harbucks)
Well known approaches, mindsets and methods that have worked well in relatively stable environments are not suitable to solve the problems of today and to ensure the strategic readiness of our complex organizations in the long run. It is time for a revolution in strategy work.
„The problem with turbulence is not the turbulence itself. The problem is to act with yesterday’s logic”.
What management mastermind Peter Drucker put in a nutshell is still symptomatic of the approach in many organizations today: People stick to familiar ways of doing things, even though, for example, differentiated markets, shortened life cycles, complicated matrix structures and new rules of the game due to digitization require a different mindset and different methodologies. This is also because our organizations are not able to evolve at same pace as the environments did and now our structures became barriers for adaptive and agile strategy work.
To keep pace with change and remain future-proof, organizations need to achieve a new level of quality and speed in their strategy work.
10 levers that will increase the quality and speed of your strategy work:
- Agility and speed in Strategy Development are the key success factors
Your Strategy Development and execution cycles need acceleration, shorter cycle times and a decoupling from fiscal year events - Top-down meets bottom-up in a countercurrent process
The big question about centralized or decentralized strategy development has only one answer: Both. Networking and alignment is needed in the right dosage - Strategy work needs to get out of the "Silent chamber" – into the depth of the company
Involve many more employees than before in strategy development through simple processes and comprehensible methodology. Strengthen the strategic capability of the entire organization through collaboration and participation - Collective knowledge – activate and leverage the undiscovered treasure
Cross-link, cluster and process the knowledge of many managers and employees at the right points in the strategy process - Leverage the success factor of good segmentation
Proper segmentation of markets becomes the even more important, but also more complicated in strategy development - No paralysis through analysis – focus on few and essentials
Reduce the analysis effort by using the right methods and focus on the underlying strategic assumptions, the development and formulation of the strategies - Free strategy work from silo thinking
By cross-linking goals, initiatives and the needed investments, you create a coherent overall picture across planning units at all levels - Close the planning gap
The existing gaps between strategy and planning (mid-term planning, budgeting) need to get closed in terms of processes and methods - Go for the the advantages of AI in Strategy Development
Machine Learning helps us to finally master the huge amount of already existing and valuable qualitative and quantitative strategic information - Anchor Strategic Thinking throughout the organization
Strategic Thinking as part of the company DNA becomes the number one success factor for the needed interconnectedness, strategic foresight and organizational learning
In the coming weeks, we will explain how to proceed step by step and what you might consider in our new article series "The Revolution of Strategy Work".
In this articles series have been published so far:
Article 1: Revolutionize your Strategy Development
Article 2: Agility and speed – key success factors in Strategy Development
Article 3: Top-down or Bottom-up in Strategy Development
Artikel 4: The hidden strategy treasure – If the company knew what the company all knows
