Gap Bridging

Organizations need to develop strategic objectives, derive and implement effective measures, and review the implementation process using common performance measurement tools.

Nonlinearity, hyperdiversity, information exponentiality, unpredictability, etc., are all causes of uncertainty. Bridging strategy gaps involves aligning an organization's goals, resources, and actions to effectively achieve its mission and adapt to its environment. 

Approaches to achieve this include strategic planning, resource management, and fostering reciprocal commitment within the organization.

Strategic Planning: Strategic planning is a disciplined approach that guides an organization's purpose and activities, especially concerning the future. It involves:

-Establishing realistic goals and objectives that align with the organization's mission.

-Concentrating resources on a limited number of objectives to focus efforts.

-Ensuring members work toward the same goals.

-Assessing and adjusting direction in response to a changing environment.

-Communicating goals and objectives to the organization’s constituents.

-Developing a sense of ownership of the plan.

Resource Dependency Theory: Organizations develop strategies to enhance their bargaining position in resource-related transactions. Organizations depend on resources from their external environment, which can create dependencies. To counter this:

-Diversifying product lines can lessen a firm’s dependence on other businesses.

Organizations adapt by aligning internal elements with environmental pressures and attempting to alter their environments.

Reciprocal Commitment: Establishing reciprocal commitment suggests a relationship exists between certain management practices and performance. Important factors include:

-Investing in training and development to ensure workers have the skills and abilities to perform.

-Empowering workers with decentralized decision-making authority.

-Encouraging participation and the use of self-managed work teams.

-Offering pay for performance and flexible career designs.

Business ecosystem is dynamic, hyper-connected, nonlinear, expansive, and interdependent. The linear planning-execution scenario needs to be replaced by the iterative planning-action continuum. Organizations need to develop strategic objectives, derive and implement effective measures, and review the implementation process using common performance measurement tools, such as the balanced scorecard, to make continuous improvement and increase the success rate of business strategy management.

Posted in: GAPs,Strategy