Navigate to your future in times of change
Succeeding in times of change
In today’s environment of rapid change and increasing competition, even the most successful companies are vulnerable if they become comfortable in the patterns of their past successes. We’re living in a time where companies and industries are disrupted almost on a daily basis. Companies need to be much more aware of non-traditional competitors who are lurking around every corner. “Digital” enables new business models and c-suite executives realize that no industry is immune to its impact.
Traditional approaches to strategy are inadequate to deal with dynamic markets. Competing organizations often converge on similar strategies and tactics that do not differentiate, engage or inspire. The current market environment, driven by globalization and digitization, only makes the inadequacy of the classical approach more obvious.
Instead of extrapolating the past to the present into the future (strategic fit) we apply a “Future Back” approach to strategy that was first described by our Chairman Emeritus Professor Gary Hamel and C.K. Prahalad in their groundbreaking book “Competing for the Future”.
Stretch leads to a more ambitious strategy that defines our choices about where we play, how we compete and who we need to become. Over the past 25 years we have refined and battle tested this approach with dozens of clients.
“We are extremely enthusiastic about our new strategy and expect a transformation in how we develop and market our products and services. We expect these changes will help us to differentiate and create competitive advantages in the categories and markets we operate.”
Ramón Mendiola, CEO of Florida Ice & Farm Co.
Getting to action
Throughout the strategy development process we engage a variety of stakeholders who will be involved in leading elements of implementation. The gap between strategy definition and implementation can be significant and unless addressed appropriately leads to poor results.
Benefits from this approach
Most businesses develop a high level strategy and then on a much shorter cycle define a strategic plan. We synchronize this long term horizon with a short term focus through migration management.
Advantages of this approach are: