The Strategy Context
The uncertainties of today’s business environment have been epitomized by the Corona virus outbreak. The defining factors of our business operations no longer entirely lie within our shores – our horizons have expanded to such an extent that something that happens in one far part of the world (in this case, Wuhan, China) can deliver such a major shock to economies across the globe – more so in a very short space of time. We watched the Corona virus story unfold before our eyes and we didn’t react quickly enough or put in place contingency measures because we didn’t think it would affect us to that magnitude – this is compounded by the fact that the virus is clearly unknown to all of us.
All the sound business strategies, plans, forecasts and budgets we had made for the quarter, for the half-year, for the year or whatever planning period, have all gone to toast because of the Corona virus outbreak that started a few months ago thousands of kilometres away in China! Our Strategic planning models have always been about certainty – knowing the knowable and planning for such eventualities. Residual uncertainty has always been thought to have insignificant impact on our business operations. However nothing can be further from the truth, especially in the wake of the COVID-19 outbreak. We have to proactively tackle residual uncertainty in our businesses.
Strategy is still important – if not more critical now than ever before. However our strategic management processes have to change drastically. Organizations can no longer afford:
- Flat and uninspired strategic plans
- Once-a year strategic planning processes
- Incremental strategic planning & budgeting processes
- Management disengagement from strategy
- Not cascading strategy to the rest of the organization
An immediate paradigm shift is required for organizations in Zimbabwe to adapt to such changes. This shift is critical in building agility and dynamism in our management practices, which then help our organizations to navigate the ever changing business environment.
1. Be Dynamic and Agile
Strategy Models are good, but they should not constrain us from doing business efficiently. Organizations need to be perceptive, adaptive and agile in their development and implementation of strategy. Develop an ongoing and continuous strategic planning process to readily respond to changes in the operating environment and adapt implementation matrices as necessary.
2. Seek Rapid Results
Due to the rapid rate of change, the business planning horizon is now shorter. In order to achieve results in such a rapidly changing environment, it is imperative that our plans are crystal-clear to drive action. Driven by our vision and mission, focus on shorter-term results that feed into the long term vision.
3. Inclusive and Participative Strategic Planning
The traditional approach where strategic planning was done by a few Executives only is no longer viable in this environment. This approach does very little to engage and inform the entire Team in the organization. Strategic planning processes must leverage on the best and brightest resources in the organization. This approach harnesses the best that the organization can offer, irrespective of employment level. Research has also shown that it’s an approach that produces far better results and goes a long way in informing and engaging employees who will in fact execute the strategy.
4. Strategy Conversation – Keep it Alive 24/7
In such a dynamic operating environment, collaboration is even more critical and the basis of such collaboration is the common understanding of roadmap. It is therefore important that strategy is everyone’s conversation in the organization. All members of the Team should be clear about the direction and roadmap, as well as their contribution to such. Define roles, responsibilities and processes required to keep the plan alive in the organization.
5. Achieve Alignment, Seek Value
A strategic plan should enable your organization to realize its vision and mission. Every strategy that has been adopted should pass this alignment test, if not then such strategies should be changed. A strategic plan must provide full alignment of business operations to the vision. This ensures effective resource deployment to those areas that add value to the mission. Embrace new innovations and process efficiencies through analytics, scenario planning & testing.
6. Align Strategy to Competencies
Ability to win depends on your competencies – tie your strategic plans to current and future people capabilities. It is critical to connect your strategies to your people, as successful execution depends on them. Develop the necessary competencies within your people to pursue your vision. You can’t win the game, if your team is not properly equipped.
7. Corporate Culture Alignment
In Zimbabwe rarely do the current strategy approaches account for the viability of existing corporate culture – too much emphasis is placed on the “hard issues”. Yet corporate culture actually has a defining impact on the successful execution of the strategic plan. Corporate culture should be by design, and should be incorporated into strategic planning. If you don’t, you run the risk that the current company culture will only hold you back from success.
- Re-imagine new realities
- Re-imagine new ways of working
- Re-imagine new set of skills
- Re-imagine new organizations
- Re-imagine new roles
