However, right now, overview, orientation, and direction are crucial. Steering a ship from the engine room entails enormous risks. Even if all operational levers are optimally set, there is still the danger of shipwreck.
In times like these, strategy work is the means to maintain an overview and set the right course. However, the way strategy work is conducted has fundamentally changed.
Here are some practical tips:
Strategy Work as a Management Process: Make strategy work an integral part of your management process. Only by working on both operational and strategic levels throughout the year can you respond appropriately to current demands and maintain the right speed.
Involvement of all Levels: Strategy is no longer defined in an ivory tower or in the drawer of consulting firms. Solutions have become more complex and require the involvement of all levels and the use of swarm intelligence.
Utilization of AI: Use artificial intelligence as a tool to quickly overview and plan scenarios. However, bear in mind that AI cannot replace strategy work.
Dynamic Objectives: Do not give your strategies rigid expiration dates. Instead of relying on long-term plans, opt for dynamic objectives that can adapt.
Gain Overview: Create routines and space to maintain an overview. Constant monitoring and reporting are not the right mindset for strategic thinking and goal development.
Concrete Implementation: Translate strategic priorities into concrete output expectations. Clear goals and responsibilities are crucial for successful implementation.
Start Simple: Start, even if not everything is perfectly thought out. Cascade the strategy to all levels to enable the involvement of all employees.
Consistency and Control: Establish clear dashboards, controlling, and steering instruments to make progress transparent and ensure the company stays on course.
Act Now: Do not wait until next year to make adjustments. The more often and faster you conduct strategy iterations, the better your plans will be, and the more successful your company will be.
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