Highlights of World Strategy Week 2014
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Produced by
Alliance Partners
Most important things participants learned from
The State of Strategy Today
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Convergence boundaries of industries and weakness
Innovation is an element of Strategy not a standalone
Measure what matters
More companies seek proprietary insight vs. readily available
information
• The nature of strategy is changing
• Strategy is the most important thing that strategic leaders do.
Organizations will fail if they don't focus on strategy. Poor
decisions about strategy result in low performers. Without
excellent strategy, the excellence of
implementation does not matter.
Most important things participants learned from
The State of Strategy Today
• Analysis, competition takes greater speed in definition, action,
and corrective action
• Strategy needs to support an agile development environment
• The external environment demands new strategic tools and
frameworks, not less strategic thought
• Understand global and local issues
• Need to have a specific offering meeting market demands or
company will be unable to offer competitive advantage
Most important things participants learned from
The State of Strategy Today
• We need speed and agility in strategy. There is more room to
be creative with strategy. Be willing to take risks and be
confronted with the unpredictable. The quality of
commitment to the strategy process is becoming more and
more important, as is improving quality of the decision
making. Strategy needs to be much more real time, with more
awareness of trends. If strategy is more "real time," trends
will not be disruptive but will open up more possibilities.
• Affordable, available, attractive and sustainable
• Dynamic strategy processes are needed to decouple strategic
thinking from the calendar
Most important things participants learned from
The State of Strategy Today
• Emerging consumers will soon be the next middle class
• Create a "wide space" in the organization for people with
passion to implement your strategy. Look at the business not
just for the economics but also for the social view. Will set-up
a future opportunity to attract more customers to your
platform. Think about sustainability of the organization and
attracting long-term customers when developing strategy.
Most important things participants learned from
Role of Leaders in Strategy Success
• Emerging, more than 30 % of growing consumer market
• Execution vs. executives
• Most executives are opinionated and not making decisions
based rich data and inputs
• What leaders must do to ensure a strategy is successful
Most important things participants learned from
Role of Leaders in Strategy Success
• Strategy is what leader and leadership team decides to do to
increase odds they win game they are playing. 75-90% of
strategic initiatives fail to achieve objectives. To increase odds
of success, get clear on what need to do, create and tell a
story around it. Clear metrics. Build leadership team to drive,
make it happen. Provide resources, empower org to use
tools/resources to get things to happen. Communicate, be
open to questions/concerns, get everyone involved. Lots little
steps, not 1 big. Convene regular forum to see what's going
on. Ask questions and guide. Celebrate success.
Most important things participants learned from
Role of Leaders in Strategy Success
• "Counseling together" needs to be the new model of
leadership
• Companies moving away from Public big data, creating
protective sites in order to collect data.
• leadership must adopt change
• principled performance
Most important things participants learned from
Role of Leaders in Strategy Success
• Take integrated approach to governance, risk, compliance.
The role of leaders is to start with principled performance.
Process has to keep goal in mind: to reliably achieve the target
of strategy while addressing uncertainty and acting with
integrity. Principled Performance. Strategic objectives need to
be measurable and measured. Give stakeholders clarity on
objectives, not just tactics. Timing of information and having
resources matter. Not "governance by guessing.“
• awareness about changes in the strategy plain
• the difference between strategy development and strategic
planning
Most important things participants learned from
Role of Leaders in Strategy Success
• No strategy exists in a vacuum: A cliché. For CEOs, senior execs,
can do attitude, confidence, being in control can lead to belief
their whole world is in the palm of their hand. Disrupters are
always under the radar going at your customers.
Underestimate need to understand competitors and the great
impact they can have. in typical corp., little strategic
intelligence gets to senior executives. Biased, political
information flows up,, not competitive intelligence. Then CEOs
talk to other CEOs, blind leading the blind. Need to assure that
in org leaders have channels so strategic intelligence reaches
them.
Most important things participants learned from
IMC USA’s Trust as an Essential Critical
Success Factor for Effective Strategy
• Definition of Strategy-what a leader decides to do in order to
play the game
• The trust placed by an organization in a strategy consultant
should not be underestimated and needs to be understood and
nurtured by the consultant. Lots of risk in the relationship for
the organization.
• Definition of Strategic Initiatives-what you plan to do in order
to change the game so that you win the game, most initiatives
fail to achieve their objective
Most important things participants learned from
Solving the Strategy Implementation Dilemma
• Continued learnings on the Balance Scorecard
• Develop a common understanding of what you are trying to
achieve, constant movement not a project
• Focus on a few things that matter
• Implementation has not been the focus historically.
• Strategy needs to look different - than the traditional budget
driven, political process
• strategic challenges require design
• the connection between strategy implementation and
organizational change
Most important things participants learned from
Solving the Strategy Implementation Dilemma
• Design strategy helps to bring strategy down to a practical
customer level
• Don't be afraid to set up tests of your strategy - test your
hypotheses with opposing teams
• Help employees see into the bigger picture, mission and vision
• Only 2 of top 100 leading business schools have an
implementation track.
• connect with people
• contingency versus crisis
• strategy execution is a journey
Most important things participants learned from
Solving the Strategy Implementation Dilemma
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Design of strategy is key in getting great implementation.
Need to measure the result and it needs constant refresh
Strategy execution will become an important discipline
changing the business- changing hearts and minds
ingredients for implementation1strategy has to be painful,
there has to be trade-offs or you don't have a strategy
• stress testing
Most important things participants learned from
IMC USA’s Technology & Strategy
• Innovation is the center of everyone economy machine
• New revolution to connect the business
• Rethink how to embrace innovation for the 21st century
Most important things participants learned from
Today's Hotbed: Social, Technology & Strategy
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Difference between how and why
Innovation outcomes uncertain
Social isn't about just broadcasting
What matters to a CEO, strategy not high on the list
With social media and direct involvement, why do we need
politicians to speak for us? What are implications of direct
government?
Most important things participants learned from
Today's Hotbed: Social, Technology & Strategy
• Organizations are moving into a symbiotic ecosystem, where
everyone is connected to everyone. In this setting, customers
are key in creating strategy. An ecosystem is marked by
mutuality and orchestration. The whole is greater than the sum
of the parts. IBM- Apple relationship shows how such new
relationships can be disruptive.
• Death of large - companies must get small to win; be nimble and
innovative
• Moment of truth
Most important things participants learned from
Today's Hotbed: Social, Technology & Strategy
• Businesses that can't tap into social, won't be around in 3 years
• Execution dilemma
• World is turning into execution and Run the business less
emphasis on strategy
• storytelling for non profits
• Social can help in strategy creation, product creation,
operational improvements, customer services.
• Today we are fitting old structures to new platforms. Today small
is big and will take over big. Need to capitalize on individual
knowledge, not just organizational knowledge.
Most important things participants learned from
Today's Hotbed: Social, Technology & Strategy
• Measure outcomes and not just activities
• Responsibility to lead
• Think of how to present something in the form of bites, snacks,
meals, buffet and chef's table - helpful model
• Social is a great equalizer. Death of large - industrial age
bureaucracy. Large must get small. Nimble and innovative wins.
Power of open - ordinary people, extraordinary network
collaboration, crowd sourcing means innovation. Open is how
we will compete. Leaders need to engage through social and
facilitate others' engagement.
Most important things participants learned from
IMC-USA's Collaborative Minds
• Strategy is the learning process
• Collaboration platforms can be extremely valuable in creating
strategy across an organization and with stakeholders.
• you must show empathy
• The power and tools of a collaboration platform are not
immediately obvious and therefore hinder use and acceptance.
• you must plan your strategy
Most important things participants learned from
The Future of Strategy
• Digital reinvention
• Overcome the challenges
• Traditional strategic planning is history1how strategy will
become a "course" or "domain" on its own by 2020
• importance of strategy
• Strategy is not a "project." Need connections between business
and operations, and to speak the same language in the
organization. Need to build "strategy DNA" in the organization, a
bottom up approach. Strategy is learning, telling stories. Need to
let go of the orthodoxy.
Most important things participants learned from
The Future of Strategy
• Money for good- governance
• New and emerging technologies combining to transform
industry
• Performance and accountability
• The perception of risk in strategy holds organizations back - it's
not the real risk. Need to build a series of strategies and have
enough to "win in the right direction." Strategy is a structural
process, wave after wave.
• Strategy is more importantly about counseling together, and
capturing the hearts and minds of everyone
Most important things participants learned from
The Future of Strategy
• Mobile revolution to get more disruptive
• Strategy planning is not easy steps
• Need to move from FUD - fear, uncertainty, doubt - to SED serendipity, empathy, discovery. Otherwise, just using strategic
planning as an excuse for not transforming as necessary given
the impact of cultural and technological change.
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