Thanks for all your great responses to the last blog post. We’ve seen strategy processes be incredibly successful, and we’ve seen them have little impact. Here are 6 key elements that make strategic processes effective – or not:
  • Think outside the octagon; don’t just think outside the box.
  • Be radical & audacious in your thinking.
  • Be willing to disrupt your entire organization.Embrace culture change as part of strategic change.
  • Be willing to stop doing things that have made you financially successful in the past.Don’t fear losing what you have.
  • Embrace the fear (excitement!) of trying something new – or failing at something new.
  • You can’t expect to have all the answers. Strategy isn’t about knowing what you want; it’s a matter of figuring it out as you go along.
And most of all, you have to be willing to adapt your culture and business so that strategic development is a dynamic process, part of your daily operating model.
You need to view your world differentlyif you want to see the signs of a coming market disruption. Strategy is about changing ahead of the market, not trying to catch up once it has turned the corner.