Have you ever wondered how Google, Apple and Tesla stay ahead of the market and the rest of the world?
Arguably with emerging levels of global complexity and the increasing impact of digital disruption that it's almost impossible to plan with any degree of effectiveness. And for many organisations that use outdated strategic planning methods, this assumption remains true. Many organisations including senior leaders and boards continue to the same thing they have always done or even worse, nothing at all.
Put simply, many businesses and organisations are struggling, struggling to remain agile and flexible enough to adapt to the modern global environment, relying solely on extensions of their current business model and historical markets to try and extend their revenue.
Clarity on Strategy
The first questions I ask at every client in my initial conversation is tell me what you mean by "Strategic".
The response is nearly always the same, a list of activities or a ‘To Do’ list that is either operational or tactical and not really strategic at all. At best I would estimate that less than 5% of my conversations actually refer to true strategic thinking, furthermore the processes to remain strategic over time are virtually never in place. Follow up questions include:
Do you do any form of strategic foresight?
Do you practice any form of scenario planning?
Do you monitor any emerging the global trends, not related to your business?
If you do, how often do you or your team report on those trends and feed them back to the executive team or CEO?
Do you have a dynamic steering strategy group, if so, how often do they meet, and who do they report too?
For most companies a strategic plan is nothing more than an extended financial plan. Which means that most strategic plans aren't really that strategic at all, comprising of retrospective views of their current reality and simply projecting their current reality into the future. This practice alone stops most businesses from being genuinely strategic and customer centric.
Solutions - Strategic Foresight
Strategic foresight is a strategic planning upgrade that allows business to create their own future. It assists organisations to consider, understand, and integrate these changes in global environments into real time inputs to guide the strategic planning process, by doing this it also helps organisations:
Spot new opportunities
Development niche markets
Innovate new products
Create new value for exiting clients
Steer the organisation in new and dynamic ways
Identify new partnerships
Be agile not reactive
Experience - A two day strategic foresight workshop specifically designed for leaders and senior leadership teams to envisage a new future. Designed for traditional businesses now in decline to reinvent and recharge themselves by looking into the future. Some of the methodologies used in this workshop include;
Causal Layered Analysis.
Partner Program - Every quarter you get 2 days of key strategy development based on the latest movements in the global market. Spot fresh opportunities, examine new markets, investigate new partnership viability. Outputs from these days can then be transferred into my Innovation Programs, which allows the outcome generated to be transferred into new product or service prototypes.
Feel like having a conversation about reinventing your business in order to stay ahead of the competition and become a market or sector leader?
Get in touch and we can start a conversation about ensuring your businesses remains competitive and responsive to the market's demands.