Beat the odds with Bold Business Strategy
Digital is here to stay. As technology continues to disrupt both employee and customer experiences, companies must redefine their status quo. Today’s accelerating technology and explosion of data have created opportunities for organizations to explore new ways of working to increase efficiency and agility. Forward-thinking companies leverage automation technologies to enable more productive employees and satisfied customers.
Companies need to initiate scalable, sustainable, and measurable transformations now to prepare for tomorrow. Digital transformation requires end-to-end change in existing investments, processes, and organizational structures - Let us support you. We guide clients through the changing landscape and show them how to adapt because with a well-informed digital strategy, companies thrive.We specialize in developing business strategies that focuses on paths that generate additional revenue streams.
Strategic planning is a comprehensive process for determining the vision of a business, i.e., what it should become and how it can best achieve that goal. It explicitly links the business’s goals and objectives to the actions and resources required to achieve them. Strategy Identification is a systematic process to describe an organization’s vision and mission, evaluate strengths and opportunities, and develop strategies to achieve its goals. Understanding the why of what you’re doing (company mission), where you’re going (vision), and how you’re going to get there (values) aligns an organization together. A company’s success depends on having a solid vision for the future and employing an engaged team that is dedicated to making that vision a reality.
Describe your vision - Identify effective strategies based on your core strengths and opportunities and develop a clear vision for your success.
Identify obstacles to achieving your goal. Vote on obstacles that will have the greatest impact on achieving your goal
Identify strengths and opportunities that could help you achieve your goal. Engage a diverse group of stakeholders for a wider perspective of strengths and obstacles.
Based on your key strengths and opportunities, rate various strategies based on potential impact and ease of implementation.
Develop a detailed action plan with key stakeholders to turn ideas into implementation.
Gaining an understanding of where and how to compete in the marketplace will ultimately reduce your risks, as well as your time and money. Those that most accurately perceive the competitive landscape as it is and is likely to be in the future have a distinct competitive advantage. Top-performing companies are deep opportunists, and it starts at the top. Senior leaders take time to tune up their understanding of the digital tools and practices their businesses need to stay ahead. Top companies scan for digitally enabled productivity opportunities and for external-environment shifts that are changing the economics and boundaries of their businesses. Digital leaders collect and analyze customer data to identify new ways of winning over buyers. To ensure that results permeate the organization, top-performing companies encourage employees to share lessons learned from failures and celebrate success together.
Organizations tend to underrate communication during periods of change, and do too little of it. Business leaders should provide a clear case for change, a reason why the digital transformation matters. They can cite hard evidence such as declining revenues, or anticipated trends such as changing customer behaviors or disruptive competition. Employees also want to know the target state of the transformation—“what we want to achieve.” This goal should be distinctive and easily understandable, but also emotional so that people want to embrace the journey. Senior management and the extended leadership team, moreover, should fully support and embody the end state. Using quantitative measures to express the target state, such as revenues or market share, will allow the organization to clarify and track progress. In addition, a distinctive slogan or logo can crystallize the target state. Together with the case for change and the target state, other effective communication should be rigorously planned and executed. Tactics range from town hall events to videos, blogs and virtual collaboration tools. A communication plan will harmonize these tactics and include dedicated metrics and details regarding content, timing, channels, presenters and audience.
Communicating a message does not automatically mean the message has been understood or agreed on. Companies need to engage with employees. This provides the opportunity for each employee to participate in the endeavor through discussion and questioning. Communication generates attention and curiosity, but only engagement promotes understanding and acceptance. Top-down engagement starts with the executive board and then moves down the organizational hierarchy. Occasions for engagement include collaboration workshops and leadership all hands meetings. Bottom-up engagement is driven by change champions who are key to gain buy-in. Change Champions are those that demonstrate leadership, are respected and well-networked in their organization, have a positive outlook and actively promote innovation. They facilitate open communication amongst the team members, escalating individual or team concerns as needed and can deescalate conflict when necessary
If communication and engagement have been effective, most employees will have accepted the change. But acceptance does not equal implementation; that is where dedicated measures come in. Enhancing employees’ skills, tools and methods can do the job. For a transformation initiative, this often includes new, more flexible ways of working, as well as hard skills such as data tagging and data analysis. Behavioral change also thrives in a favorable setting. Remove organizational blockers such as detached working spaces that make it difficult to collaborate, or restrictive mobile phone policies that undermine the proclaimed mobile-first approach.
Continuous feedback loops help to identify and address risks at thee early stage of major strategic initiatives. Frequent pulse checks can gather employee feedback and based on the results, senior leaders and change agents can proactively tackle problems head on by involving employees in generating potential solutions and arrive more quickly at resolutions. Feedback allows communication and transformation plans to be adapted accordingly. Clearly articulated and readily available metrics also can help catalyze change.