What do you do if your strategy needs to adapt to incorporate new skills?

A strategy in no way implies a plan that will remain untouched for years to come. Strategy is not an annual team effort, but an ongoing process, so incorporating new skills is a natural part of the strategy process. Skill requirements need to be thought about at the strategy development stage to prepare for this in advance. The question "What skills and competencies will we need to implement the strategy" should be asked while still in the process of strategy development.

Strategy is the changes to current processes that are necessary to achieve objectives. Once we have worked out which processes we need to change to maximize value for key stakeholders, we can develop a plan for training existing employees and hiring new ones. We need to test this plan against the key process changes we need to make as we implement the strategy.

When incorporating new skills into my strategy, I highlight the importance of adaptability, resilience, and leadership. Recently, when introducing artificial intelligence techniques into our decision-making process, I prioritized the team's ability to continuously learn by encouraging relevant courses and certifications. This approach not only enriched our skill set but also allowed for constant iteration of the strategy, adapting it to the demands of the dynamic landscape. Continuous feedback from employees played a crucial role, highlighting the need to improve interpersonal skills to facilitate the transition to the digital era. This iterative practice resulted in a more robust strategy aligned with market demands.

Evaluating impact is like a feedback loop or gap analysis. You can back to the drawing board and see what went well and what didn't went well. Based on that you decide what direction you want to take henceforth.

Agility is the skill of this generation. Not just IT, but even manufacturing lines need to be agile. They should be adaptable to changes if required and they should develop or advance incrementally and iteratively.

Start by identifying the needed skills and assessing any gaps within your team. Develop a plan, which may involve hiring new talent, training existing employees, or outsourcing tasks. Communicate the importance of these skills to your team and align them with organizational goals. Implement a system for ongoing learning and skill development to keep your team adaptable. Regularly review and update your strategy to incorporate new skills and stay ahead of industry trends. By investing in skill development, you can ensure your organization remains competitive and well-prepared to navigate changing market demands, driving long-term success.

First, you need to identify the new skills required. Understand precisely what specific skills you need to enhance your strategy. Next, assess your team's current skill set. Evaluate the skills your team already has and figure out where the gaps are that need to be filled. Continuously monitor and adjust. Keep an eye on how effective the new skills are in your strategy, and be ready to make adjustments as needed to improve performance. By actively incorporating new skills into your strategy, you'll stay competitive and adapt to changing business environments effectively.

As seasoned strategists, we understand the allure of a well-crafted plan. The sparkling documents, inspiring presentations, and strategically aligned teams all paint a picture of certainty and control. However, the reality is far more nuanced. Embrace an iterative approach to strategy. Be prepared to adapt, adjust, and refine your plan as it interacts with the ever-changing business landscape. By doing so, you ensure your company stays agile, competitive, and ultimately, successful. Embracing Strategic Agility is a key trait for Chief Strategy Officers, CXOs, and Business Leaders

Adapting strategy to incorporate new skills is essential for staying competitive. Here's how to navigate this process effectively: Assess current skill gaps. Identify emerging skill requirements. Offer training and upskilling opportunities. Cultivate a culture of continuous learning. Align skill development with strategic goals. By proactively addressing skill evolution, you can ensure your strategy remains agile and your team equipped to tackle future challenges.