Wednesday, May 11, 2016

The Monthly Strategy Highlight: Digital Strategy Tuning Up May. 2016

The strategy is the light to guide you ahead, not the hand to walk you through.

The strategy is the focal point of the “Future of CIO,” and the pillar of organizational existence, its design, structure, functions, vision, and mission. A real strategy is neither a document nor a forecast but rather an overall approach based on a diagnosis of a challenge. It brings up new functions, roles, and responsibilities, 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 monthly strategy highlight of the “Future of CIO” blog in 2016.

Digital Strategy Tuning Up  May., 2016
  • Five Aspects of Digital Strategy Management: The strategy is what you intend to do or accomplishes in terms of managing both resources and constraints to having the critical success factors in place and achieve the set of strategic priorities. In the strategy making process, one must also assess the environment, competitions, and other threats and opportunities and devise contingencies accordingly. With the increasing speed of changes and disruptions, digital Strategy-Execution is an ongoing continuum with iterative steps. Here are five aspects of digital strategy management.

  • 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 the 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?

  • Five Points of Digital Strategy  The strategy is the art of designing a way of navigating and effectively utilizing available resources to attain a clearly defined objective. However, in many business contexts, the word strategy is demotivating. Some organizations have strategy meetings days and weeks only to go around in circles. Now businesses step deeper and deeper into the digital era, in which everything is touched by digital technologies, but how do they put effort on reshaping the digital version of corporation strategy?

  • Five Highlights in Digital Strategy:"Digital strategy is the compass to navigate through the digital transformation journey in organizations today. So it's important to outline the strategic intent and frame the strategy to be understandable and implementable. Otherwise, people's different interpretations yield many unintended consequences. Then, it is vital to actively socialize the strategy to confirm its intent and understandability by those who will guide the implementation. Here are five aspects in crafting and implementing a digital strategy.

  • Digital Strategy Tuning: How to Make Good Business ‘Assumptions’? Running a business is a thorny journey, with a lot of uncertainty, complexity, and velocity on the way, what are basic business ‘assumptions’ mostly flawed or invalid when preparing business strategic planning? And how can organizational leaders make a continuous adjustment to ensure the business is “doing the right things” before doing things right, framing the right questions before answering them right?

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