Today's change is both fast and complex, where strategic planning is no longer fit because of the rapid changes and unpredictability. Traditional approach of companies, five to ten years ago responding to change by setting vision and strategy and then start following it, does not work anymore.
Thus, industries such as aerospace, healthcare,pharmaceutical, energy, retailing,advertising,financial services etc are engulfed by fast complex strategic change, need to be alert every day, week and month to review their strategy constantly i.e. need for strategic agility responses /flexibility.
Strategic agility is the ability to continuosly adjust and adapt strategic direction in core business, as a function of strategic ambitions and changing circumstances, not just new product or services, but also new business models and innovative ways to create value for company.
FAST STRATEGY key enabling capabilities:-
1. Strategic Sensitivity: both the sharpness of perception and the intensity of awareness and attention.
2. Resource Fluidity: the internal capability to reconfigure business systems and redeploy resources rapidly.
3. Collective Committment : the ability of the top team to make bold decisions - fast, without being bogged in "win-lose" politics.
No comments:
Post a Comment