Harvard Business Review (2021) argues the reason why many strategies fail is due to the CEOs’ ‘approach to strategy’ isn’t holistic and tend to forget that strategy across the complete landscape isn’t a linear process.
Has strategy become short-term focus for the next fiscal year to only benefit shareholders? Or has the world become too complex to encompass long term thinking? COVID-19 -, Climate change - and New technology impact? The list is long… 😱
This challenge can feel like – shall I take the ‘Blue pill’ and do what I know best or shall I take the ‘Red pill’ and have faith in the organization… but let’s have a look at the ‘strategy approach’ instead of the ‘strategy itself’.
Too often companies put their best thinkers – but few – in a room to come up with the strategy, often with support from external advisors.
But no one can be experts in a world that is constantly changing.
We will argue that because organizations are so well-educated today that companies should make the most of their body of knowledge rather than seeking advice from external consultants who know ‘everything about strategy’ but 'nothing about your organization' – therefore, it’s about having faith in your organization’s ability to know what are the best things to do.
We believe that the support and involvement of employees and managers is crucial to successfully handle a challenging future and that collaboration across silos is the most powerful tool to gain a holistic strategy in this ever-changing world.