The purpose of strategy is to create common understanding of the targeted future state as well as to identify and concretize means for reaching it
Strategy process starts by creating a common understanding about future business environment and customer need as well as the state of the current business. Future business environment analysis typically includes focused deep dives into strategically most significant trends and uncertainties. Depending on our clients’ needs and the level of uncertainty in the business environment, it can also include more comprehensive scenario analysis about business environment’s alternative, potential future developments. Future business environment analysis can also involve building a goal-oriented view about the future business environment, for example, together with strategic partners and customers.
Next, the strategy process often continues by revisiting the organization’s purpose and/or mission. This is recommendable to ensure that the purpose/mission remains valid, pertinent and engaging. Organizational values and operating principles are often revisited, as well. Vision, on the other hand, crystallizes the targeted state at the end of the strategy period, which is then concretized in more detail in strategic objectives and key success factors.
In our experience, an effective way to strategy work is to utilize a framework of two playing arenas:
- Playing arena 1: Operating in current business
- Playing arena 2: Operating in new growth areas
Strategy work also includes ensuring that organizational capabilities and management model enhance effective strategy implementation. Often, a model for continuous strategizing is also developed to ensure organizational agility and strategy’s continuous validity.
Our approach to strategy work is engaging and inclusive. By engaging organizational members broadly in the strategy work, potential gaps between strategy formation and implementation can be reduced. It also helps to enrich and concretize strategy content as well as strengthens capability for fast and effective strategy implementation.
By engaging organizational members broadly in the strategy work, potential gaps between strategy formation and implementation can be reduced.