A few topics reoccur with companies facing a strategic change. Based on those, I will look into three different transformation cases in these blogs. I will reflect them against to their specific market position and potential external change factors. All of these have the same key needs for strategy and transformation talk:
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Disruption is a relatively new buzz word that you hear often especially in strategy workshops. Incumbent companies are concerned about the disruptors, often start-ups, that will change the game in the industry and market. Regardless of the industry, the change will be a reality in the very near future and it will happen fast.
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The years working with different organizations and cases have shown that there are several topics recurring in strategic discourse in companies that are facing strategic change. In these blog posts, I will look into three different transformation cases, in relation to their specific market position and external change factors.
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During the last 15 years of acting in multiple positions in various organizations and seeing the many ways strategy work, strategic planning and strategy execution are done, few topics keep reoccurring in strategy talk. In the following series of four blog posts, I am sharing three typical stories from organizations’ point of view. The stories shared are based on real life and experience, but none represent a single case as such.
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Continuous renewal is a necessity. While one might argue differently for any one company, the statistics are brutal as summarized in this Harvard Business Review article based on research by Vijay Govindarajan and Anup Srivastava: the rate of corporate death due to sticking with "business-as-usual" is really, really high.
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What kind of combination of traits would be good in foresight work? We wrote earlier about the tools, the ground rules, and different uses of market foresight. Here's one type of view on what could make a good combination for foresight and market tracking work, with some strategy execution also in mind.
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Living with a strategy sounds easier than it perhaps is. After the strategic targets are set, they need to be communicated extensively, translated into smart milestones and goals, and committed to by the entire organization.
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Oh boy. A new study by Maarika Maury in Finland highlights that only 13% of top management, 8% of middle management, and a sad 2% of other employees are able to articulate the strategy of the company as it stands.
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>Market foresight is one of the key factors in crafting any organization’s strategy. Naturally, different organizations have different needs when it comes to strategy but the essence of any strategy needs to be about building the future of the company. Thus, strategic planning should always include consideration of possible and probable futures in the organization’s relevant business environment.
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