The COVID pandemic and lockdowns around the world caused widespread disruption in numerous industries. Management teams have scrambled to find new strategies for growth and survival while workers struggled with lost income and blurred boundaries. In my article Coronavirus and the Zoom Boom I argued this was also an acceleration of digital transformation, something that 70% of companies had already included in their strategic plans.
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Now that lockdowns are easing and vaccination rates are picking up, what’s your approach to strategic planning? Is the new normal an opportunity to reset your strategic planning methods? According to McKinsey, firms in COVID exit should use strategy inserts to “identify new growth pillars for the future corporate portfolio, create breakthrough business and market strategies in priority areas, or proactively shape the evolution of your industry structure“.
These strategic interventions must be properly designed and executed for maximum impact. The collective wisdom of your team is more important than ever before – all voices need to be heard and captured in a structured and organised process. First you will need to define critical success factors and your core strategic objectives. Then assess these relative to the optimum performance of your organisation. You should adopt a facilitated process of assigning relative weightings, scoring the factors and then analysing the gaps. An objective and data-rich approach will encourage constructive dialogue rather than heated debates.
Dr James A. Robertson – the ‘strategy doctor’ – facilitated a series of strategic workshops for the IT leader of an agri-science company. Despite initial tensions and emotional disagreements within the team, his StratSnap©, StratGap© and StratKPI© process and tools delivered a cohesive strategic plan and scorecard for the executive team. This alignment helped them chart a course to efficiency and productivity, with key stakeholders noting tangible benefits of engaging Dr Robertson and his methods.
“Without the StratSnap process we would have continued to pull in different directions.”
The challenges to achieve competitive advantage may be different post-COVID, but the need for effective strategic planning is ever more important. Now your organisation can embed these strategic principles with our latest course Learn Business Strategy Planning For Competitive Advantage. You’ll learn about developing a robust strategic design through gap analysis, action plans, developing competencies and continuous improvement. Learn the true definition and essence of strategy as well as key differentiators and the critical factors for successful strategy implementation.
Dr Robertson’s proven methodology draws on his background in engineering, economics and military ‘quick attack’ disciplines. He’s spent 30+ years’ consulting with C-suite executives and helping clients develop actionable strategies and implementation plans. Get the insights you need to start your strategic planning process the right way. Enrol in this top rated online course today and learn how your organisation can develop a truly competitive COVID-exit strategy.