Make Your Strategy More Agile
When the US military coined the term VUCA (Volatility, Uncertainty, Complexity and Ambiguity) at the end of the cold war to describe the kind of conditions they were now facing, it didn’t take long to gain traction in the business world. Certainly since the emergence of the internet and all of the attendant developments that has gone with it, the business environment has never been more challenging, unpredictable and fascinating and that is why there is a focus on how to make your strategy more agile .
Most organisations, large and small, accept that long range strategic planning is a thing of the past. In a world that can change in a day, the use of that approach is less valid when fundamental shifts can occur in very short time frames.
“In the last 15 years 52% of the fortune five hundred companies have disappeared. In 1955 the average life expectancy of a company was 75 years, in 2015 the average life expectancy of a company is 15 years.”
So strategy is no longer as predictable as it has been in the past, in this article by Tim Leberecht in the Harvard Business Review, he describes strategy as “fluid,— more like software that needs constant upgrading”, and if this is true, then an alternative approach to developing strategy needs to be developed.
So if you’re involved in strategy, whether an Entrepreneur, Change Manager or Business Leader, this article should provide food for thought (click on the image below to find out more):