A digital strategy is cross-functional effort, multidisciplinary, multidimensional planning; it brings up new functions, roles, collaboration, demand for intuition and emergence, complementarities, philosophy, neutron sciences, and trans-disciplinary businesses. But these are not new per se. The frameworks of thoughts, consciousness and maturity assessments apply to strategy, then, now and in the future. Here is the first monthly strategy highlight of the “Future of CIO” blog in 2016.
Debunk the Myths of Digital Strategy Management Jan. 2016
- Three Insights in Digital Strategy Management: Nowadays, with increasing speed of change and fierce competition, business strategy execution is no longer linear steps, but a dynamic continuum. If strategy formulation is more important for leading business toward the right direction, then strategy execution is perhaps more difficult due to the business complexity, uncertainty, time/resource consuming, etc. The digital strategic themes are essentially the pillars of the organization. They include business growth, operational excellence, customer experience excellence, product development, innovation, and sustainability. Strategic perspectives include financial aspect, customers and stakeholders' aspect, internal processes, organizational capability and engaged leadership. Strategy execution: How difficult could it be?
- Three Characteristics of Digital Strategy Digital strategy planning is a living process, and a good strategy is not “superficial,” it needs to dig deeper and diagnose the root causes of emergent business issues, because digital organization is a part of the dynamic business ecosystem that connects digital dots or resources inside and outside of the organization to create values for customers. So the piecemeal strategy of bolting digital channels to the business is no longer sufficient, and digital strategy needs to be shifted from top-down one-way direction to organizational inclusion, from static and linear strategy-execution scenario to dynamic strategy execution continuum; from a single strategy documentation often put on the shelf to an ongoing strategy portfolio. More specifically, what are the characteristics of an executable digital strategy?
- Culture vs. Strategy: Which Comes First?: The strategy is like the business roadmap to leverage the company's resources and achieve its vision; and culture is the collective mindset, attitude, and behaviors of the group of people and it's about how people think and do things here. Many of us like Drucker's witty quote, “Culture eats strategy for breakfast.” A strong culture can lift up a mediocre strategy, but a weak or negative culture will screw a superior strategy. So culture vs. strategy: which comes first? And what are the interwoven relationship between them?
- The Pros and Cons of SWOT Analysis for Digital Organization. The digital world is complex and uncertain, the world boundaries close in, business weaknesses and strengths are inseparable, opportunities are tightly mingled with threats and vice versa. In such circumstance, is SWOT tool still sufficient for doing the strategy analysis in the complex world we live in? What're the pros and cons of SWOT analysis, and how to leverage it in decision making and strategy planning?
- Is Digital Strategy “Anti-Strategy”? In many contexts, the word strategy is demotivating. Some organizations have strategy meetings days and weeks only to go around in circles. The traditional strategy is more like a “shelf-ware” - the document put on the shelf, instead of the shared guide to compass the business transformation journey. What are the essential elements and unique styles of digital strategy to groom a Digital Master? And how to rejuvenate the fresh strategic thinking and crafting, is digital strategy “anti-strategy”?