Are you ready for it? What happens when change accelerates

2020 will be remembered as the year when change accelerated.

Predictions regarding e-commerce, remote working, changes in eating habits, Industry shifts, and the way we travel all became reality in three months instead of a decade.

What happens when Change accelerates?

The speed of change leaves a great number of people feeling unsettled. Managers and leaders are rewarded for accuracy in forecasting, and investors tend to choose companies that have reliable track records. A year where Budgets, forecasts, and Strategic Plans were thrown out the window left an unusual feeling in the boardroom and on the shop floor.

Equally jarring was the sudden shift to previously packed tourist hotspots devoid of people.

The city close to where I live, Venezia, experienced a >98% drop in foot traffic in May.

Reworking Strategy in Real Time

One of my clients a few years ago remarked "reworking Strategy in real time feels like the pitstop in a formula one race."

Leading Organizations worldwide are able to adjust their Strategy in Real Time- in a similar way that racing teams can adjust their Strategy during a pitstop. It is because they have proven processes and common thinking tools which allow them to quickly adjust to changing conditions and opportunities.

What can we do? What do we do?

The First step is to make your thinking visible that we cannot follow old plans and budgets.

We need rather to think in two speeds:

1) What do we now (and for the months where COVID challenges persist)

and at the same time

2) How do we ensure we are prepared for the future?

A really useful way I have found to look at this is by detailing scenarios. What happens in each case? How probable is the case? What can we do now to be ready for both today and tomorrow?

We have been using remote collaboration tools including MIRO with a great success in drawing out alternative paths for the future, and understanding how we can best generate and capture value in each case.

I encourage you to start with your team today and ask the question "How well prepared are we to think in two speeds?"

This is my first newsletter in a series entitled "Strategy Matters"

Please let me know what you found useful about this, what can be improved upon, and anything you would like to see in the upcoming issues. I will publish biweekly, and ensure it is quick and easy to read while providing a tool you can take back and use today.