5 Step Strategy Action Plan - First Two Phases
Daniel Ling
Head of UX Design | CEO & Founder, Emerge Creatives Training Co | Author | ex-Lazada, DBS, OCBC and Income
5 Step Strategy Action Plan
After understanding the 3 Parts of Strategy - vision/mission, action plan and tactics- I will move on to focus on the action plan- mainly the 5 Step Strategy Action Plan.
Here's the 5 Step Strategy Action Plan:
1?? Diagnose Phase - to understand current context and situation
2?? Frame and Forecast Phase- to frame future drivers and project a future scenario
3?? Strategize Phase- to discuss and define strategy to overcome the future challenge
4?? Decide Phase- to make decision and plan on a strategy
5?? Implement Phase- to build and implement in accordance to the strategic decision
The 5 Step Action Plan is made up of two distinct parts-
( 1?? Diagnose Phase + 2?? Frame and Forecast Phase) is all about understanding and finding our future challenge while
(3?? Strategize Phase + 4?? Decide Phase + 5?? Implement Phase) is all about identifying and implementing the right strategy to solve that future challenge!
Why do we need an Action Plan?
Just like problem-solving, we need a methodology to solve VUCA or complex problems. Similarly, due to the nature of complexity to understand and navigate our future and coming out with strategies- we need a methodology to work on this.
Again, this is methodology, where it is very good to have awareness on how to build a strategy- but just like the learning stairs- please do sign up and go through hands-on work to apply that for deeper learning and retention!
Strategy Action Plan Phase 1- Diagnose Phase ??
You have a future challenge>>
It could be:
?? Future competition? A new co-worker joined and he seems to perform better than you.
?? Future complex task? Your boss moved you to a new role and you don't know much about the department.
?? Future goals? You just got married and suddenly you are thinking of having a baby.
?? Future situation? Your company has a sudden restructuring and you need to adapt all over.
To deal with the future, you need to have complete understanding of the current state:
What is the context?
Who you are in the context?
What is the situation?
What are your current strengths and weaknesses?
What are the opportunities and threats?
Some things you'll need to do:
Data Collection:
Research and gather relevant data, including market trends, competitor analysis and customer feedback- to inform strategic decision-making.
Assessment:
Conduct a comprehensive analysis of internal and external factors such as context map and competitor analysis as well as to understand the overall trends of our target customers.
Identify Challenges:
Determine key challenges and obstacles that will affect the success of your objectives.
As with most methodologies- the very first Phase is really about research and discovery- understanding your current state will give you a good stead of knowing the future. Once you are ready, you are all set to head to Frame & Forecast Phase!
_____________________________
___________________________
Strategy Action Plan Phase 2- Frame and Forecast Phase ??
While Diagnose Phase is the microscope, Frame and Forecast Phase will be the telescope. During this Phase, we will need all our ability to forecast the future using the clues that we see at the present.
To frame and forecast something is not easy- it requires a deep understanding of the situation and a vision to apply future thinking into what could be a future scenario.
There are nuggets of insights we see today, that we can project that into the future, for instance using the F&B industry we have 3 examples:
1. Plant-Based and Alternative Proteins:
Current Trend: Increase consumer interest in plant-based diets and alternative protein sources ( Beyond Meat or Impossible Foods) due to health, environmental, and ethical concerns.
Future Projection: The demand for plant-based and alternative proteins will continue to grow.
Potential Strategy Action: F&B should invest in research to create innovative plant-based products, expand alternative protein offerings and market as healthy, sustainable, and tasty alternatives to traditional meat. Collaboration with plant-based startups and acquire such companies could also be strategic moves.
_____________________________
领英推荐
___________________________
2. Sustainability and Eco-Friendly Practices:
Current Trend: Consumers are concerned about sustainability and seek products with eco-friendly packaging and highly sustainable practices (no-straws or reusable bags).
Future Projection: Sustainability will be the standard expectation among the consumers.
Potential Strategy Action: F&B should implement sustainable practices across their supply chains, from sourcing to packaging. Standard practices should be implemented throughout the company such as use recyclable or biodegradable materials or reduce waste. Companies to highlight their sustainability efforts in marketing campaigns to build brand loyalty.
3. Personalization and Technology Integration:
Current Trend: More health-conscious and savvy consumers and the use of technology (ie apps and wearables) to track and improve dietary habits.
Future Projection: Personalized nutrition will become more prevalent as technology continues to advance, offering tailored dietary recommendations based on individual health data.
Potential Strategy Action: F&B should leverage technology to offer personalized product recommendations and nutritional advice with their range of food products. Additionally, using data analytics to understand consumer behavior and preferences can help in creating customized marketing strategies and product innovations.
After understanding some examples of Frame and Forecast in the previous posts, isn't it cool to be equipped with the tools and templates to forecast future scenarios?
Some things you'll need to do:
Set Key Drivers:
Gather key drivers from your context research from Diagnose Phase and frame clear key drivers that will infer insights to forecast future scenarios.
Forecast:
Anticipate and brainstorm future scenarios- enabling the organization to proactively plan for potential changes. Map and visualise different scenarios to Future Matrix and plan strategy and tactics to the scenario.
There will a total of four types of Future Scenario we have to deal with:
?? Future We Expect
?? Better Future
?? Worse Future
?? Weird Future
We will talk about the 4 Futures in another time.. which Future will you plan the most?
Now that you know the first 2 Phases of Strategy Action Plan in order to find and forecast our future challenge- please look forward to see the next newsletter on the next 3 Phases!
Last Words
I will be adding more articles on Design Thinking, Strategy and Innovation throughout the year. I will share insights on the various 5 Step Action Plans- Design Thinking Action Plan, Strategy Action Plan and Innovation Action Plan will be added periodically to give my readers a broader insights to be a successful professional in the marketplace!
Follow Blog: https://www.emerge-creatives.com/blog-1
About Daniel Ling
Daniel Ling is a regional Design Leader, and certified Design, Innovation and Strategy Coach with 15 years of experience in the financial and e-commerce tech space- who moulded himself to be a “designer in a business suit”- strong in the Design Thinking process and yet relevant to the industry. He is proficient in the digital and transformational space- in the area of design leadership and management, research, strategy planning and coaching.
Follow on social media:
Instagram- @designthinkersgroupdtv
Youtube: https://www.youtube.com/@designthinkersgroupdtv
How to sign up for his WSQ Certification Courses:
WSQ Design Thinking: https://www.emerge-creatives.com/wsq-design-thinking-certification-course
WSQ Entrepreneurship Business Planning: https://www.emerge-creatives.com/entrepreneurship-business-planning
WSQ AI Business Innovation: https://www.emerge-creatives.com/wsq-ai-business-innovation-management
Where to get Complete Design Thinking Guide for Successful Professionals?
Download PDF Digital Copy here: https://payhip.com/b/hM4U
Purchase from Amazon here: https://www.amazon.com/dp/1514202735
Download eBook from Apple Store here: https://itunes.apple.com/us/book/complete-design-thinking-guide/id1022432207?ls=1&mt=11