Post by eti800 on Feb 12, 2024 0:50:31 GMT -8
Designing new strategies involves changing the way you work and collaborate with your team. Small changes in your work dynamic can have a huge impact on obtaining surprising results. And most importantly, numerous advantages when it comes to implementing the results.
During the creative process of a strategy, we work with two fundamental ingredients: uncertainty and risk. The first is combated with collaborative work and sharing experiences lived by our team. And regarding risk, it is combated by building common objectives and contingency plans against adverse results.
The four actions, which we recommend below, are aimed at changing the way we design strategies. It is about eliminating the fear of uncertainty and minimizing risk.
Pillars of a strategy
Pose the strategy in an adaptive way
Why try to think of a long-term plan Denmark Email List if our environment is changing and unstable ? A strong and ambitious vision is very important, but the strategy to achieve it is not unique and no one has ever designed anything the first time.
It is better to be aware of our inability to design the best strategy on the first try. It works best to conceive the strategic reflection process as an itinerary that rotates, forks, rises and falls. Of course, taking into account the changes that occur in our environment and depending on the competitive scenarios that we find ourselves in.
Working periodically to verify our hypotheses and to what extent we should vary our course is a habit that, without realizing it, will lead us to align the strategy with the interests of the business and the organization .
Use the critical capacity of your team
The people who work around us performing managerial tasks are not simple subordinates. They are profiles endowed with a lot of talent, own criteria and great knowledge of the business. So why not include them in our strategic design process ? If we only use them as listeners once we have created our own strategy, we will only achieve silence, demotivation and, above all, resistance to change.
The creation of forums where points of view are shared, where each person's day-to-day life is empathized, the difficulties that each manager encounters for strategic deployment are known, and the successes achieved are also lessons that will undoubtedly enrich the final strategy. They will allow everyone to feel like they are co-participants in the result obtained.
Forget about great ambitions and see “game by game”
Strategies have gone from being pharaonic works designed to last for eternity, to becoming ephemeral, chameleon-like and malleable entities. Great long-term plans are just as likely to be wrong as short-term strategies, but with the disadvantage of mortgaging many more resources and ending up in a dead end.
Today we have enough technology to process in real time the enormous amount of data generated by our businesses. We can be more agile when it comes to verifying and rectifying in the eyes of the entire organization, if the strategy is not giving the expected results.
We are not saying to give up our ambitions. They are essential to motivate ourselves and work with a goal. We want to emphasize that working in the long term is increasingly less useful and that there are surely other equally ambitious objectives, but framed in a closer time horizon. For example, in a digital transformation process it would be ideal for our company to go from being a crude, factory-based industry to becoming a 4.0 factory model. However, this ambitious and distant goal involves others that are as important and closer (and perhaps more difficult) as our employees knowing how to use a smartphone , beyond WhatsApp and Facebook.
Work with a broad perspective and flexible budgets
Allocating budget items due to historical inertia within the development of a 3-year strategic plan is like tying your hands inside a moving vehicle and expecting the road to always be straight. Obviously, that never happens and it is very possible that at the very least we will encounter a pothole, construction work or, in the worst case, a cliff. It is for this reason that the vehicles were equipped with steering and brakes and it is highly recommended that we do not take our hands off the wheel or our eyes off the road. It is logical to think, then, that it would be very good to equip ourselves within the implementation of a strategy with good brakes and a steering wheel or, in other words, a budget that can be reassigned depending on the competitive scenarios that we encounter.
Obviously, there will always be budget items that will be clearly assignable and that can be considered fixed, but for those objectives that contain a certain risk, it is better to use more flexible funds that can be increased or decreased depending on the results obtained over time.
Success requires a strategic approach
In short, the changes are here to stay, but the advantages of the digital economy for both people and companies are undeniable. However, for companies to carry out a successful business strategy , it is necessary to consider and design a business restructuring before implementing new technologies. That is, just using them will not imply a transformation. If you want to start with this transition and have questions about it, contact us and tell us. We can advise you. We will wait for you!
Close a meeting here. We will advise you without obligation on business strategy, innovation and project development. We are looking forward to hearing from you.
During the creative process of a strategy, we work with two fundamental ingredients: uncertainty and risk. The first is combated with collaborative work and sharing experiences lived by our team. And regarding risk, it is combated by building common objectives and contingency plans against adverse results.
The four actions, which we recommend below, are aimed at changing the way we design strategies. It is about eliminating the fear of uncertainty and minimizing risk.
Pillars of a strategy
Pose the strategy in an adaptive way
Why try to think of a long-term plan Denmark Email List if our environment is changing and unstable ? A strong and ambitious vision is very important, but the strategy to achieve it is not unique and no one has ever designed anything the first time.
It is better to be aware of our inability to design the best strategy on the first try. It works best to conceive the strategic reflection process as an itinerary that rotates, forks, rises and falls. Of course, taking into account the changes that occur in our environment and depending on the competitive scenarios that we find ourselves in.
Working periodically to verify our hypotheses and to what extent we should vary our course is a habit that, without realizing it, will lead us to align the strategy with the interests of the business and the organization .
Use the critical capacity of your team
The people who work around us performing managerial tasks are not simple subordinates. They are profiles endowed with a lot of talent, own criteria and great knowledge of the business. So why not include them in our strategic design process ? If we only use them as listeners once we have created our own strategy, we will only achieve silence, demotivation and, above all, resistance to change.
The creation of forums where points of view are shared, where each person's day-to-day life is empathized, the difficulties that each manager encounters for strategic deployment are known, and the successes achieved are also lessons that will undoubtedly enrich the final strategy. They will allow everyone to feel like they are co-participants in the result obtained.
Forget about great ambitions and see “game by game”
Strategies have gone from being pharaonic works designed to last for eternity, to becoming ephemeral, chameleon-like and malleable entities. Great long-term plans are just as likely to be wrong as short-term strategies, but with the disadvantage of mortgaging many more resources and ending up in a dead end.
Today we have enough technology to process in real time the enormous amount of data generated by our businesses. We can be more agile when it comes to verifying and rectifying in the eyes of the entire organization, if the strategy is not giving the expected results.
We are not saying to give up our ambitions. They are essential to motivate ourselves and work with a goal. We want to emphasize that working in the long term is increasingly less useful and that there are surely other equally ambitious objectives, but framed in a closer time horizon. For example, in a digital transformation process it would be ideal for our company to go from being a crude, factory-based industry to becoming a 4.0 factory model. However, this ambitious and distant goal involves others that are as important and closer (and perhaps more difficult) as our employees knowing how to use a smartphone , beyond WhatsApp and Facebook.
Work with a broad perspective and flexible budgets
Allocating budget items due to historical inertia within the development of a 3-year strategic plan is like tying your hands inside a moving vehicle and expecting the road to always be straight. Obviously, that never happens and it is very possible that at the very least we will encounter a pothole, construction work or, in the worst case, a cliff. It is for this reason that the vehicles were equipped with steering and brakes and it is highly recommended that we do not take our hands off the wheel or our eyes off the road. It is logical to think, then, that it would be very good to equip ourselves within the implementation of a strategy with good brakes and a steering wheel or, in other words, a budget that can be reassigned depending on the competitive scenarios that we encounter.
Obviously, there will always be budget items that will be clearly assignable and that can be considered fixed, but for those objectives that contain a certain risk, it is better to use more flexible funds that can be increased or decreased depending on the results obtained over time.
Success requires a strategic approach
In short, the changes are here to stay, but the advantages of the digital economy for both people and companies are undeniable. However, for companies to carry out a successful business strategy , it is necessary to consider and design a business restructuring before implementing new technologies. That is, just using them will not imply a transformation. If you want to start with this transition and have questions about it, contact us and tell us. We can advise you. We will wait for you!
Close a meeting here. We will advise you without obligation on business strategy, innovation and project development. We are looking forward to hearing from you.