Strategy as a Learning Process |
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Strategic leaders are quite clear that strategy is a learning process – we start with our strategy; we get some things right; we get some things wrong; we learn from our mistakes and successes; and we make adjustments to our strategy. And this is a continuous process. However, company culture can either support this or constrain it. Consider your own company in the light of the characteristics below. How does your own business either support or constrain strategic leadership?
What did you learn about your own organization or division? What could you do to create a shift towards a culture that is supportive of strategic leadership? What will happen if you do nothing?
The most important thing to get clear is that strategy is not an event. It is a learning process that consists of the following:
1. Assessing where we are:
What is happening in the competitive environment?
What is happening in the market?
What are the challenges and obstacles in our way?
What are the opportunities in the external environment?
2. Getting clear on who we are and where we want to go:
Where do we want to take this organisation?
What is our big, hairy audacious goal?
Do we have a vision of the future that is sufficiently compelling that it will be embraced by all – touching their hearts and their minds?
3. Figuring out how to get there:
Who should be involved?
What are our key strategic drivers?
What do we need to be obsessive, neurotic freaks about doing?
How will we measure and track our progress?
4. Making the journey:
Are we obsessively disciplined about executing the strategy?
Are we staying on track despite the whirlwind of our operational priorities?
Are we managing the tension between the long-term strategy and short-term performance?
5. Checking progress:
Are we obsessive about tracking our progress?
Do we show our progress on a scorecard that is visible and motivating?
Do we adjust course when our lead measures are not producing the required lag measures?
Do we regularly review how we are doing?
What did we set out to achieve?
What are we actually achieving?
What is working?
What is not working?
What have we learned?
What do we need to do differently going forward?
6. Revising our strategy:
How do we need to adjust course based on what we are learning?
Who else needs to be involved?
What needs to change in the way we do strategy?
Based on what you have learned about strategy being a learning process, what do you need to change in the way you do strategy?
The final article in this series is an overview of strategic leadership.
Recommended Reading:
“Becoming a Strategic Leader” by Richard L. Hughes and Katherine Colarelli Beatty (ISBN 0-7879-6867-6).
“The New Strategic Thinking” by Michael Robert (ISBN 0-07-146224-4)
“Execution: The Discipline of Getting Things Done” by Larry Bossidy & Ram Charan (ISBN 0609610570)
“Good Strategy, Bad Strategy” by Richard Rumelt (ISBN 978-1-84668-480-7)
HBR 10 Must Reads: On Change Management
HBR 10 Must Reads: On Strategy
The most important thing to get clear is that strategy is not an event. It is a learning process that consists of the following:
1. Assessing where we are:
What is happening in the competitive environment?
What is happening in the market?
What are the challenges and obstacles in our way?
What are the opportunities in the external environment?
2. Getting clear on who we are and where we want to go:
Where do we want to take this organisation?
What is our big, hairy audacious goal?
Do we have a vision of the future that is sufficiently compelling that it will be embraced by all – touching their hearts and their minds?
3. Figuring out how to get there:
Who should be involved?
What are our key strategic drivers?
What do we need to be obsessive, neurotic freaks about doing?
How will we measure and track our progress?
4. Making the journey:
Are we obsessively disciplined about executing the strategy?
Are we staying on track despite the whirlwind of our operational priorities?
Are we managing the tension between the long-term strategy and short-term performance?
5. Checking progress:
Are we obsessive about tracking our progress?
Do we show our progress on a scorecard that is visible and motivating?
Do we adjust course when our lead measures are not producing the required lag measures?
Do we regularly review how we are doing?
What did we set out to achieve?
What are we actually achieving?
What is working?
What is not working?
What have we learned?
What do we need to do differently going forward?
6. Revising our strategy:
How do we need to adjust course based on what we are learning?
Who else needs to be involved?
What needs to change in the way we do strategy?
Based on what you have learned about strategy being a learning process, what do you need to change in the way you do strategy?
The final article in this series is an overview of strategic leadership.
Recommended Reading:
“Becoming a Strategic Leader” by Richard L. Hughes and Katherine Colarelli Beatty (ISBN 0-7879-6867-6).
“The New Strategic Thinking” by Michael Robert (ISBN 0-07-146224-4)
“Execution: The Discipline of Getting Things Done” by Larry Bossidy & Ram Charan (ISBN 0609610570)
“Good Strategy, Bad Strategy” by Richard Rumelt (ISBN 978-1-84668-480-7)
HBR 10 Must Reads: On Change Management
HBR 10 Must Reads: On Strategy
