Given the “VUCA” normality of the digital business and given the challenges of ever-evolving dynamic ecosystems, business strategies today are usually dynamic and have a lot of moving parts.
The circumstances, which are complicated, and inherently uncertain all at the same time, are in the present moment. The breadth of strategy needs to go beyond silo thinking and touch the business ecosystem; the depth of strategy enables business management to diagnose the root causes of business issues, and deal with it effectively. but some aspects have strong implications for future circumstances.
Draw-See-Think-Plan approach: Due to the “VUCA” business reality, one of the big concerns is with the cost of backing out of strategy flaws. The strategy is a coherent plan to achieve specific goals through a series of mutually supportive and integrated actions. Forward-thinking organizations use strategy canvas to draw, see, think and plan. The whole point of dynamic planning, not a static plan, is to keep iterating, learning, and working on a rhythm of sustained delivery. Engaging key stakeholders early, and giving them the opportunity to help shape the strategy. If varying stakeholders are given a significant role in the strategy crafting process, they will identify with the resulting strategy and can be counted on to actively promulgate it into their organizations
When VUCA (Volatility, Uncertainty, Complexity, and Ambiguity) is at its climax, then rigid System Thinking could prove insufficient, more sense and adaptation would be needed. The problem is not that people create bad plans, we all do. It is that they stop planning at that point and building new learning in. Business strategists have to work through with the senior executive team by trying to build a future state blueprint for their improvement program, to create a target to focus effort and valuable resources. The well mixed top-down and bottom-up strategic planning can expand the breadth of strategy. The business strategy tools are coupled according to the selected planning model, stakeholders are truly interested in a major change in business performance in the short, medium and long term.
Situation Analysis-Proposal –Adjustment approach: Good strategy-making is both art and science, involving deep thinking and dynamic planning. Sometimes, the strategies are defined by people that are geographically far away and lack understanding of the local or regional circumstances. Reaction vs. production is situation-driven. Although being proactive is an excellent attribute, there are limits, and it's not the ultimate objective of every situation or challenge. The "right" strategy can't be completely defined by the planning space; it is clarified through situational analysis. As long as your strategy is not aligned with the requirements, rules and habits of your surroundings, it is in jeopardy. “Persuasion” is a form of reasoning that some call planning argument- a proposal to do, accept, support something by pointing out that doing so will have a consequence that also should be accepted, adopted, aimed for.
Digital strategy management is an iterative continuum propelled by both visible and invisible enablers such as process, resource, culture, etc. How each part of the organization, including all of the key functions must "put it all together," to be successful in implementing strategy and bringing tangible business results. However, many senior executives are closed to the possibility that their established views could somehow be less right or perfect than the ones that got them to where they are now at the top. The geographic communication problem magnifies costs and issues even further for global companies, making it all the more important to bring the key players into the process earlier rather than later. In fact, most strategic projects need experts from different departments, preferably the best resources, and fully dedicated. As the effectiveness of strategy is based on well accepted and acknowledged understanding of the organization’s current reality, as well as how broad knowledge the people who make strategy have.
"Act, Sense, Respond" approach: In order to adapt to the dynamic business new normal, it’s important to manage the strategy with iterative steps: planning - execution - adjustment, easy to share, and concise to follow. Knowing when to make changes, large or small, to the plan. Be able to plan in a way that's highly acceptable to the team, willingness and ability to play roles at different levels. To out beat the market, a coherent company enforces an iterative planning-action continuum, takes an “act, sense, respond” approach, has a deliberately close alignment among the company’s strategic direction, its most distinctive capabilities, and most or all of its products and services, to execute capability-based strategic planning.
The other challenge in executing the strategy stems from a lack of understanding or ownership of the strategic principles. Implementing strategy, managing performance and improving business achievement as an iterative continuum means setting metrics, adjusting plans, measuring performance and understanding business results dynamically. Everybody needs to be involved, at a certain point and at a certain stage of the strategy execution. The successful strategy needs good communication transmission that will create a sense of ownership, as well as the strong business capabilities for strategy implementation.
Draw-See-Think-Plan approach: Due to the “VUCA” business reality, one of the big concerns is with the cost of backing out of strategy flaws. The strategy is a coherent plan to achieve specific goals through a series of mutually supportive and integrated actions. Forward-thinking organizations use strategy canvas to draw, see, think and plan. The whole point of dynamic planning, not a static plan, is to keep iterating, learning, and working on a rhythm of sustained delivery. Engaging key stakeholders early, and giving them the opportunity to help shape the strategy. If varying stakeholders are given a significant role in the strategy crafting process, they will identify with the resulting strategy and can be counted on to actively promulgate it into their organizations
When VUCA (Volatility, Uncertainty, Complexity, and Ambiguity) is at its climax, then rigid System Thinking could prove insufficient, more sense and adaptation would be needed. The problem is not that people create bad plans, we all do. It is that they stop planning at that point and building new learning in. Business strategists have to work through with the senior executive team by trying to build a future state blueprint for their improvement program, to create a target to focus effort and valuable resources. The well mixed top-down and bottom-up strategic planning can expand the breadth of strategy. The business strategy tools are coupled according to the selected planning model, stakeholders are truly interested in a major change in business performance in the short, medium and long term.
Digital strategy management is an iterative continuum propelled by both visible and invisible enablers such as process, resource, culture, etc. How each part of the organization, including all of the key functions must "put it all together," to be successful in implementing strategy and bringing tangible business results. However, many senior executives are closed to the possibility that their established views could somehow be less right or perfect than the ones that got them to where they are now at the top. The geographic communication problem magnifies costs and issues even further for global companies, making it all the more important to bring the key players into the process earlier rather than later. In fact, most strategic projects need experts from different departments, preferably the best resources, and fully dedicated. As the effectiveness of strategy is based on well accepted and acknowledged understanding of the organization’s current reality, as well as how broad knowledge the people who make strategy have.
The other challenge in executing the strategy stems from a lack of understanding or ownership of the strategic principles. Implementing strategy, managing performance and improving business achievement as an iterative continuum means setting metrics, adjusting plans, measuring performance and understanding business results dynamically. Everybody needs to be involved, at a certain point and at a certain stage of the strategy execution. The successful strategy needs good communication transmission that will create a sense of ownership, as well as the strong business capabilities for strategy implementation.
Given the “VUCA” normality of the digital business and given the challenges of ever-evolving dynamic ecosystems, business strategies today are usually dynamic and have a lot of moving parts. The business leaders' commitment must be clearly and completely communicated for engagement of all stakeholders in order to improve the overall success rate of strategy management.
1 comments:
The Centrifugal Polishing Machine is the ideal growth to any studio. With a cleaned, hardened steel out of doors, this system is reliable. The hard and focused tumbler vibratory polishing machine is made to complete all viable materials, from steel to timber.
Post a Comment