Creating a Strategy That Works

The most farsighted enterprises have mastered five unconventional practices for building and using distinctive capabilities.

Conventional
wisdom		 The unintended
consequences of
conventional wisdom

 

 The alternative:
unconventional acts
Focus on growth Getting trapped on a growth treadmill: chasing multiple market opportunities where you have no right to win

 

 Commit to an identity: Differentiate and grow by being clear-minded about what you can do best
Pursue functional excellence Striving to be world-class at everything but mastering nothing; treating external benchmarking as the path to success

 

 Translate the strategic into the everyday: Build and connect the cross-functional capabilities that deliver your strategic intent
Reorganize to drive change Falling into a habit of organizing and reorganizing: trying in vain to change behaviours and create success by restructuring alone

 

 Put your culture to work: Celebrate and leverage your cultural strengths
Go lean Cutting costs across the board: starving key capabilities while overinvesting in non-critical businesses and functions

 

 Cut costs to grow stronger: Prune what doesn’t matter to invest more in what does
Become agile and resilient Constantly reacting to market changes: shifting direction in the misguided conviction that if you listen hard and act fast, you will survive Shape your future: Reimagine your capabilities, create demand, and realign your industry on your own terms

Source: Strategy That Works

Published: February 22, 2016. Categories: News and Robert's Blog.

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