In our VUCA world—Volatile, Uncertain, Complex, and Ambiguous—it's common to come across new acronyms like BANI, RUPT, or TUNA, each emphasizing the rapid, unpredictable changes we face. However, regardless of the acronym, one thing is clear: the world is evolving at an unprecedented pace, with more change expected in the next decade than we've seen in the last 50 years.
But what about your meticulously crafted strategic plan? Should it change just as rapidly? Some argue for annual strategy shifts, while others advocate for ongoing agile strategies. However, I hold a different perspective.
Strategy is about escaping the day-to-day chaos, freeing ourselves from the tyranny of short-term sales pressures, and gaining clarity about where we're headed. It serves as the compass during the storm, providing a stable direction. Imagine a company that changes its strategic direction weekly based on newspaper articles—inevitably, they'd keep moving in circles without reaching any destination.
Strategy is inherently a long-term endeavor. Strategic Purpose and Strategic Pinnacle statements remain nearly permanent, looking well beyond daily operations. A typical strategic plan, with objectives and levers, spans three to six years.
The daily grind intersects with strategy during the implementation of strategic initiatives. Organisations must excel at fast strategic execution to keep up with the world's acceleration, volatility, and complexity. Accelerate implementation, reassess initiatives for results, and adapt as needed, BUT the core strategic objectives and direction should remain stable, offering clarity and trust.
Strategic intelligence is another critical skill during tumultuous times. Continuously scan micro and macro environments to spot changes in client behavior, competitor moves, and disruptions. While this capability has been around for decades, its frequency of use has increased. It should help shape initiatives, test concepts, and verify key assumptions annually or biennially—YET NOT to change the strategic objectives every other week.
Myth debunked: Strategic direction should not change daily. Strategy brings stability and direction to a changing world. Take the time to define a solid strategy, and then implement your portfolio of initiatives with agility and precision. Spend quality time designing your strategy (slow strategic thinking), and execute it vigorously and swiftly (fast strategic doing). I advocate transitioning from fast strategic thinking to good or slow strategic thinking when defining your strategy. Once defined properly, execute strategy fast, relentlessly, with determination and speed!
#StrategyBlast #Reinvent #Rethink
Author: Anael Granoux