Strategy is indeed an art as it is a science. It’s important to take multipath logic, connect relevant dots, make right choices and take step-wise actions.
Digital strategy is a living process with iterative steps and a dynamic continuum. There are different pieces of components in strategy execution; there are varying dots you could connect, and there are different tools you could leverage to improve strategy effectiveness.
Strategy and architecture: Business Architecture is a great strategic planning tool for business leaders to gain a systematic understanding of market dynamics, organizational interrelationship between people and process, and orchestrate an ever evolving business ecosystem. Business Architecture gets involved in clarifying the strategic vision - interacting with stakeholders who don’t have a well-defined "strategy." It helps to leverage multi-choices of strategy, gain a long term strategic-choreographic perspective, understand business complexity and its dynamic ecosystem, not just a snapshot of the current business circumstances.
Business Architecture, with an integrated blueprint and associated information, offers a solid base for road mapping, planning, strategy specification and execution because Business Architecture describes the components of the Enterprise and their relationships, and provides a systematic & holistic approach to execute the strategy. With proper business architecture, you have an idea of how to assemble the overall enterprise strategy from business; how the strategy to reduce costs is supported by a reduction in duplication of platforms, people and processes, its mapping mechanism and how to build the roadmap to execution, focusing on achieving strategic goals.
Strategy and process: Processes underpin business capabilities; capabilities underpin business strategy. The processes are the tool to get the result you formulate in the strategy. The goal-driven business process is primarily defined prior to process implementation. Process management plays a key role in driving business improvement and making sure their application development as evolutionary innovation efforts to deliver business value. Forward-looking organizations work proactively to dismantle business bureaucracy, continue consolidating, modernizing, and optimizing processes, to enforce business alignment, enablement, and collaboration
To improve strategy management success, important business processes need to be reviewed regularly, refined regularly, and are transparent across the business for improving organizational maturity. It requires that you understand your business from a cross-functional process perspective in some detail, build transparent problem-solving processes, identify key strategic processes, and make continuous improvement. In addition, you can only manage what you measure. You adopt a strategy to achieve the business outcome, and you define KPIs to continue optimizing processes and monitor performance progress, especially at the strategic level.
Strategy has a very low success rate. You have a clear destination, but you need to overcome the challenges by setting the right priorities, integrating cultures, aligning resources or talent seamlessly. Culture has multiple perspectives that directly impact strategy execution, and it is one of many resources required to execute and realize the strategy. A strategy is very important, but will only be successful if it is embedded into a company’s culture, and if the culture is designed to implement the strategy successfully.
With the increasing speed of changes and disruptions, strategies becoming more dynamic nowadays, strategy-execution is an ongoing continuum with iterative steps. There are things you can manage, but there are emerging events or trends you cannot control. Thus, strategy is indeed an art as it is a science. It’s important to take multipath logic, connect relevant dots, make right choices and take step-wise actions.
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