What do you do if your complex business operations require strategic thinking?

In navigating the intricacies of complex business operations, strategic thinking is paramount. This involves a comprehensive analysis of your entire process to identify bottlenecks and growth opportunities. Data-driven decision-making, informed by key metrics and trends, ensures a well-founded approach. Strategic planning must also consider potential future challenges and opportunities, fostering adaptability and innovation. Clear communication of the strategic vision and goals throughout the organization aligns all stakeholders. Finally, continuous measurement and refinement of the strategy is crucial for optimizing complex operations and achieving long-term success.

Strategic thinking requires viewing complex business operations from 50,000 feet to 10,000 feet. It is essential to analyze patterns, bottlenecks, lean principles, TAKT time, various productivity ratios, and other Six Sigma methods. Strategic thinking will bring clarity out of the complexity and help resolve many issues for better business performance.

Start by thoroughly evaluating the specific requirements of your business operations. Identify key areas where strategic thinking is essential to enhance efficiency, effectiveness, or scalability. This step helps in pinpointing exactly what needs to be addressed and sets the foundation for a strategic approach.

To navigate complex business operations requiring strategic thinking, start by understanding the overarching goals and challenges. Conduct thorough analysis, including SWOT and PESTLE assessments, to identify opportunities and threats. Collaborate with cross-functional teams to gather diverse perspectives and insights. Develop a strategic roadmap with clear objectives, timelines, and performance metrics. Continuously monitor progress, adapt strategies as needed, and remain agile in response to changes. Foster a culture of innovation and encourage open communication to ensure alignment with strategic objectives.

Business operations MUST require strategic thinking if your operational innovations are going to keep up with your technological innovations. If applying the Product Operating Model is the most effective way to drive innovation in product development, it can also be applied to solving your most challenging operational problems. You, as the business operations lead, act as the product manager in a product-driven scenario, to guide product discovery and product delivery --creating customer-focused, innovative operational solutions that your co-workers (your customers) are eager to use.

As the saying goes, “the devil lies in details”. Information is king. It helps identify blind spots that might not have been addressed in the needs assessment. Knowing how to use the information becomes the fundamental component to master your operations. Create a priority list in each vertical. Tie those priorities to timelines.

Make sure you understand the business objectives and challenges before starting the data gathering process. The sources of data as well as the quality are key. Once this has been reviewed, then you can identify metrics that align with the strategic goals to track progress and aid in making informed decision making. Stakeholder collaboration during this process is crucial to ensure alignment. The process is iterative and you will constantly need to analyze and solicit feedback as operations are dynamic.

Collect relevant data from all aspects of your business operations. This includes financial data, customer feedback, process metrics, and competitor analysis. The more comprehensive your data collection, the better informed your strategic decisions will be.

Trend analysis is an important aspect for strategy preparation for any operation or marketing of a business. In banking perspective, we keep an eye in the markets to see, where the customer's behaviour is shifting so that we can catch hold of the industry for financing by developing the products which suits them and enjoy the early bird advantage in the segment. This is an ongoing process and we need to regularly be in touch with the end user for forecasting the shifts in trend at early stages to adapt with them.

One thing that I found helpful is my “stop, start, continue” approach. Needs assessment is always a “start” perspective. Elements we need to start. But with data and trends in hand, it allows us to broaden the perspective into what we might need to stop and of course, we have not reached an operational complexity because the business is stalemate. On the contrary, it’s growing. Accordingly, we reiterate what we need to continue and perhaps simply, where applicable, fine tune them.

Use the data gathered to identify trends and patterns within your business and the industry at large. This analysis can reveal underlying issues, potential opportunities, and threats that need strategic intervention.

I would add under the “T” in the SMART approach, “short, mid and long term objectives”. Depending on the size of your business, this could stretch from 3 months all the way to 10 years. Objectives are always team driven. Ensure your team works under the platform of Timely, Efficient, Achievable and Measurable (TEAM). This should add significant value to the SMART approach.

Based on your needs assessment and trend analysis, define clear and measurable objectives for your strategic initiatives. These objectives should be aligned with your overall business goals and should specifically address the complexities identified in your operations.

It’s been said, strategy + execution = success. That’s exactly it. But neither strategy nor execution would take on the turns you want without a solid team. Always remember, “an A team with a B plan, is better than an A plan with a B team”. Create a single unit that has its eyes on the prize. The big win.

Develop detailed strategic plans to achieve the set objectives. These plans should outline the steps needed to tackle the complex issues within your operations, allocate resources effectively, and set timelines for achievement. Ensure that these plans are actionable and practical.

What I have found helpful is narrowing down management appraisal reviews to monthly rather than quarterly or semiannually supported by weekly updates. This keeps the team on par and focused.

After implementing your strategic plans, continuously monitor and review the results against your objectives. This ongoing evaluation helps you understand the effectiveness of your strategies and make necessary adjustments. Regular reviews also ensure that your approach remains relevant as business conditions change.

Don't overlook the importance of involving your team in the strategic planning process. Collaborative planning can provide additional insights and foster a shared commitment to achieving business goals. Additionally, consider external factors such as market conditions and technological advancements, which can significantly influence the success of your strategic decisions.

Before you carry out the strategic thinking of your Complex Business you need to analyse your Business Module as under- 1) Production Capacity 2) Market potential of your Product 3) Product Life cycle 4) Your Positioning in the Market as compared to your Competition 5) Develop a strong and Robust Supply Chain 6) Efficiency of Production Once you study the above data with respect to your Product then comes the stage of Strategic thinking on the Marketing of your Product. 1) Category of your Product i.e Retail, Wholesale, FMCG etc. 2) Workout Market demands Packing quantity. 3) Brand Development and Promotion 4) Workout A strong Dealer Network 5) Develop Direct Blue Chip Customers 6) Design Strategy to increase Market Share