Business leaders are witnessing industries reshape at a blistering rate. The impetus to change is not just an idea; it’s incredibly real. New technology platforms, global competition, and behavioral trends (and especially the intersection of these forces) are causing leaders to constantly ask – how should our strategy for navigating this new landscape evolve? How can we successfully gain long-term and sustainable momentum towards a bold new ambition?
Strategy Challenges: Death by a Thousand Paper Cuts
In a way that can almost be described as innate, consumer product and life sciences companies are facing more capable competitors, many of whom have ﬂexibility and adaptability hard-coded directly into their DNA. As new technologies and services permeate the marketplace, the pressure to innovate and seize opportunities isn’t just visionary, it’s impending. As such, it is critical for organizations to rapidly and decisively transform their operating models while articulating a clear pathway for future, sustainable growth.
How Can Organizations Improve Their Odds? Enterprise Destination Mapping.
In our experience, the most effective and successful way for companies to bridge the gap between strategy and execution is to build a clear vision that cascades as a tangible operational plan throughout an organization. This approach works because it creates a unifying framework and repeatable processes to adapt and evolve strategic imperatives in both the short and long run. Said differently, it offers “freedom within a framework” to ensure overall alignment while creating ﬂexibility to adapt to everchanging market conditions.
Without this overarching strategic framework, many leaders ﬁnd that when they attempt to formulate a new strategic change (whether a long-term transformation or a shorter-term initiative), the attempt can quickly stagnate due to organizational backslide, get weighted down by gravitational forces of legacy behaviors/culture, and/or due to lack of steam to keep the momentum moving forward.
Therefore, a commitment to adaptability and a deep understanding of the challenges associated with transforming an organization are prerequisites prior to embarking on large, transformational strategic changes.