Strategy is not a static plan, but a dynamic process of adapting to changing realities and seizing opportunities. As a strategist, you have the power and responsibility to shape the future of your organization, your industry, and your society. But how can you do that effectively and creatively? Here are some tips to help you.
Don't limit yourself by the constraints of the present or the assumptions of the past. Imagine the best possible scenarios for the future, and work backwards to identify the steps and actions needed to achieve them. Challenge yourself and your team to think outside the box, and explore new possibilities and perspectives. Use tools like scenario planning, vision statements, and moonshot goals to inspire and align your strategic direction.
Couple of ways thinking big and bold can be done are : 1) Defining the key stakeholders for your business and defining a vision and moonshot goals for those stakeholders.The stakeholder approach can help make the thinking more specific and real. This also helps to create a great story which goes with your bold strategy 2) The ‘Working Backwards’ method for product development used by Amazon can also be applied to thinking bold from a strategy perspective. Imagine the newspaper announcement about your vision and working backwards from that to create your strategy.
Go strong on two ->o<- I advise to map strategically routes from the irresistibly appealing future of us on our earth to now and the other way around. 1+1= Irresistibly appealing + walk your talk. Walk your talk together. ;-)
I am going to take a different perspective here. Even the statement of thinking big and being bold can be limiting and act as a constraint to free flowing, bold ideas. If we start with the pressure of having THE BIG AND BOLD, earth-shattering, industry-disruptive ideas we may be too dismissive of great ideas that can grow and evolve to being those big and bold one. Instead of pushing for big and bold, let’s suggest free and limitless. Remember, even a seed of an idea can grow to an enormous - yes BIG and BOLD - tree.
1.Scenario Planning: Develop multiple scenarios, from optimistic to pessimistic, to prepare for a range of possible futures. 2.Moonshot Goals: Set audacious, long-term goals that push the boundaries of what's achievable, inspiring innovation and dedication. 3.Backcasting: Start with your desired future state and work backward to determine the steps required to reach it.
The future is uncertain and unpredictable, so you need to be flexible and agile in your strategy. That means learning from the past and the present, but also experimenting with the future. Try new ideas, test different hypotheses, and learn from your failures and successes. Use tools like prototyping, piloting, and feedback loops to validate and improve your strategic choices. Be open to change and innovation, and embrace uncertainty as an opportunity.
I am fully aligned with the idea of testing and experimenting due an unpredictable and uncertain future. Many times before rolling out something to a wider audience I have carried out a controlled rollout to a smaller group o colleagues, customers or partners. They become my test case to ensure that what we are thinking about has merit and will find success. In other words, your risks can be calibrated and prioritized. If the stakes are too high, why wouldn’t you test first? Also, even early on in your testing, don’t forget to keep an eye on the data. Data is your friend and it will help you fail fast or tweak along the way to ensure success. What are the results telling you?
You can't shape the future of strategy alone. You need to collaborate and co-create with others who share your vision, values, and goals. Seek input and feedback from your stakeholders, customers, partners, and competitors. Build trust and rapport with your team, and empower them to contribute and lead. Use tools like workshops, brainstorming, and crowdsourcing to harness the collective intelligence and creativity of your network.
Strategy is no longer created and restricted to the corporate strategy teams and boardrooms. The insights the front line employees, customers and partners can bring into the market opportunities, trends and gaps in the product/solution are invaluable in the strategy formulation process. Collaboration and Co-creation with the ecosystem is also important for a number of new business models. Again, a stakeholder perspective can give clarity on who should collaborate, co-create, be consulted or just informed about the strategy.
Collaboration is the foundation of an effective strategy. You want to involve people (teams, opinions, etc) that are different than you are. Multiple perspectives will enrich your process and increase your chances of success. But as you involve others, please ensure that you maintain your focus on what you are trying to accomplish. Through the process, maintain a clear vision firmly grounded on a set core of values. Empower your team, but remember that as you empower them, you need to ensure they are aligned and looking at the same goal. Avoid design by committee or your strategy will be an unfocused, mish-mash of opinions pulling in multiple directions … and it will be un-executable.
Cross-Functional Teams: Form interdisciplinary teams that bring together different skill sets and viewpoints to tackle complex challenges. Customer Co-Creation: Involve customers in the development process to create products and services that truly meet their needs. Inclusive Decision-Making: Foster an inclusive culture where everyone's input is valued, promoting a sense of ownership and commitment.
Cultivate a culture of innovation within your organization. Encourage employees to think creatively, experiment with new ideas, and embrace a mindset of continuous improvement. Forge strategic partnerships and collaborations. Partner with other organizations, startups, or research institutions to leverage collective expertise and resources.
Your strategy is only as good as your ability to communicate and influence others to support it. You need to craft a compelling story that explains why your strategy matters, how it works, and what benefits it brings. You need to tailor your message to different audiences, and use the right channels and formats to reach them. Use tools like storytelling, data visualization, and persuasion techniques to engage and inspire your stakeholders.
Strategy typically fails on contact with real life, if not managed well before, during and after formulation. Hence communicating and getting the wider stakeholder community onboard is critical. Strategy needs to made relevant to the ‘Jobs to be done’ framework and specific to the employees, partners and other stakeholders.
Contribute to industry discussions. Write articles, speak at conferences, and share your insights on platforms. Thought leaders shape the narrative and influence the direction of strategic thinking.
The future of strategy is not a destination, but a journey. You need to monitor and adapt your strategy as you go along, and respond to the changing environment and feedback. You need to track your progress and performance, and measure your impact and outcomes. Use tools like indicators, dashboards, and reviews to evaluate and adjust your strategy. Be ready to pivot or scale your strategy as needed, and celebrate your achievements.
Stay abreast of industry trends, thought leadership, and global developments. Continuous learning ensures you are well-informed to anticipate future challenges and opportunities.