Optimize resources and be a great competitor
Many companies and their personnel are dissatisfied with strategic planning. They see it as a stagnant process, which does not bring any value or improvement to the overall management of the business. In these instances, strategic planning is too bureaucratic and disconnected from actual execution. When confronted with the increasing dynamism of today’s market, these companies feel it as a heavy anchor, blocking them from moving forward. They doubt their process can reveal the disruptive opportunities that will lead long-term value creation.
Today, with digital disruption fading industry boundaries and geopolitics challenging long-held assumptions, the market is evolving faster than ever. People are constantly altering their needs according to the latest technological advances and business complexity continues to rise.
Strategy planning excellence
Many companies and their personnel are dissatisfied with strategic planning. They see it as a stagnant process, which does not bring any value or improvement to the overall management of the business. In these instances, strategic planning is too bureaucratic and disconnected from actual execution. When confronted with the increasing dynamism of today’s market, these companies feel it as a heavy anchor, blocking them from moving forward. They doubt their process can reveal the disruptive opportunities that will lead long-term value creation.
Such concerns are based on the misconception that strategic planning is all about annual reports, budgets, and five-year plans. This approach, which functions well in stable and predictable environments, was very popular in the past. Unfortunately, stability and predictability do not characterize today’s markets in the slightest.
More dynamic environments require more agile approaches that match the speed of planning to that of the market.
The long, medium, and short terms represent different time horizons, involving diverse goals, stakeholders, and monitoring processes. Effective strategic planning addresses them individually, ensuring at each the same level of care and attention.
The long, medium, and short terms represent different time horizons, involving diverse goals, stakeholders, and monitoring processes. Effective strategic planning addresses them individually, ensuring at each the same level of care and attention.
Injecting dynamisms into strategic planning is the best way to avoid the law of diminishing returns. With too much repetition, the process may risk becoming stale and stagnant. Great practitioners achieve results by focusing on a changing list of questions and rejuvenating processes that do not keep up with the strategic environment.
Injecting dynamisms into strategic planning is the best way to avoid the law of diminishing returns. With too much repetition, the process may risk becoming stale and stagnant. Great practitioners achieve results by focusing on a changing list of questions and rejuvenating processes that do not keep up with the strategic environment.
Getting out of the building to reach customers, suppliers and other stakeholders can help avoid the pitfalls of groupthink, improve responsiveness, and drive better strategy execution. Opening discussions between central strategy teams, business leaders, board members and agile teams reinforces the understanding of the whole organization ecosystem to everyone.
Getting out of the building to reach customers, suppliers and other stakeholders can help avoid the pitfalls of groupthink, improve responsiveness, and drive better strategy execution. Opening discussions between central strategy teams, business leaders, board members and agile teams reinforces the understanding of the whole organization ecosystem to everyone.
Clear communication is essential, but so is an action-oriented mindset supported by the right capital allocation, organization, and metrics. Priority strategic initiatives need to be protected from the day-to-day and tracked on a shared performance dashboard.
Clear communication is essential, but so is an action-oriented mindset supported by the right capital allocation, organization, and metrics. Priority strategic initiatives need to be protected from the day-to-day and tracked on a shared performance dashboard.
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