Back to the Future: Rethinking Strategy

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Back to the Future: Rethinking Strategy

Summary:

The global economic meltdown demanded a rethink of how we go about securing a competitive advantage, how we measure ourselves, what it is we need to be doing and why. Suddenly the old rules of the game simply imploded and many were left clinging the ‘plan’, formulated in the context of the ‘old rules’ but now utterly useless and irrelevant.

This author asserts that what is needed today is the ability to think strategically. Furthermore, it is not just a select few within the organisation that get to do the ‘thinking’, but rather the challenge is to get everybody thinking strategically, contributing a diversity otherwise lacking in today’s strategic planning process.

Article Quote:

“The problem is, we have forgotten how to think. Reliance on our ability to plan, and specifically on Porter’s conventional wisdom as to how best to go about the formulation of that plan, has produced ‘lazy thinking’ habits within executive teams and amongst leaders. We have been so used to marching to a known tune, that when the tune changes, or the music stops altogether, we simply keep on marching in-step.

Link: http://www.connectioneconomy.com/2009/12/03/back-to-the-future-rethinking-strategy/

Conventional wisdom has been shaken up by economic conditions and is forcing organisations to re-think how they develop their strategic plans. Getting everyone in the organisation- not just leadership – to actively participate in organizing and implementing the strategic plan creates an inclusive atmosphere, thereby adding to a sense of ownership in the company.

For more on strategic planning, see http://www.performancesolutionstech.com/category/strategicplanning/

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