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Why Dynamic Strategy?
In today's turbulent world, globalization
and technology are sweeping away the market and industry structures that
have historically defined competition. Swept away with them are the classic
approaches to corporate strategy, nearly all of which mistakenly assume that
a predictable path to the future can be paved from the experience of the
past.3 Today, the
strategy cannot be taken as gospel. There are too many uncertain factors
that nobody can resolve.
Creating Sustainable Profit Growth: 9 Questions To
Answer
Even the best strategy is only a hypothesis. Never
is strategy implementation more
important than when
innovation
is at the heart of a strategy. Innovation always involves treading into
uncertain waters, and the importance of
enterprise strategy
decreases as uncertainty increases.
Yin-Yang of Value Innovation
The solution? Strategize, and then,
revise your
strategy continuously.
Jack Welch's 5 Strategic Questions
Evolution of a Successful
Strategy
Strategy should be dynamic and change
constantly in order to contend with external turbulences. Established
companies should brace themselves for a future of hypercompetition. They
should respond to rapid changes in the business environment by adopting a
new approach to strategy – one that combines
speed,
openness, flexibility, and
strategic thinking.
Experimenting
with new strategies is important. Constant testing,
learning from feedback,
adaptation and building on what is found to be successful with customers
is the way ahead, especially when you are trying to re-invent the value
provided, or the way it is produced and delivered.
Blue Ocean vs. Red Ocean Strategy
Optimizing the
Critical Combination
The drive to
capitalize on entrepreneurial
opportunity need to be combined with sound
strategic thinking. This critical mix is often difficult to optimize.
Entrepreneurial
Leader: 4 Attributes
Strategy Innovation
To survive in today's tidal wave of global
economic, technological, and social change, you must understand how
powerful forces are aggregating once-distinct product and geographic
markets, enhancing market-clearing efficiency, and increasing
specialization in the
supply
chain. You should respond by adopting a new approach to strategy –
one that combines
speed, openness,
flexibility, and
forward-focused thinking.
3Ss of Winning in Business
Strategy innovation is about challenging
existing industry methods of
creating customer value
in order to meet newly emerging customer needs, add additional value, and
create new markets and new customer groups for the sponsoring company...
More
Create Customer Value: 10
Matsushita Lessons
Just-in-Time Strategy
In today's turbulent world,
companies must let go of the notion that strategic outcomes can be
predetermined and that enduring competitive advantage can be defined and
achieved. Companies must instead adopt a "portfolio-of-initiatives"
approach that bases new business opportunities on "advantages of
familiarity," on the continuous appraisal of initiatives, and on
just-in-time decision making. Only this approach can achieve high returns
relative to risks taken while approximating the pace and scale of change in
the external business world.3
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