Companion Channel Episodes Leadership

Strategy as Practice

Today we introduce a new approach to you: “Strategy as Practice”. In this regard, we no longer see strategy as something an organization creates every once in a while, but rather as something that people in an organization do every day. Strategizing replaces Strategy. But what does that mean for your organization?

Strategizing must take place on all levels of the organization

Strategizing is a process that is not exclusively executed by the (top) management but rather is practiced on all hierarchical levels. For your organization, this means that you should make the right people – irrespective of their hierarchical level – co-authors of the strategizing process. Their actions will then carry the strategy into the organization.

Strategizing is holistic

You need to think about strategizing in a holistic manner. Often organizations separate strategy, culture, leadership, and organizational structure into different workstreams that are not brought together. Don’t do that! Instead, you must orchestrate these important pieces of the puzzle in a way that supports the core competencies of your firm.

Strategizing is emergent and replaces old school planning

Strategizing certainly requires some sort of planning. Yet, a plan itself will only remain an unused artifact if it is not “lived” by the organization. Throw away the ambition that a good strategy requires detailed 5-year plans. Rather, embrace the opportunity that strategizing is an emergent process that allows quick adaptions whenever necessary.

Strategizing requires new tools 

Traditional methodologies and tools for strategy development (e.g. Porters 5 forces) focus on the analysis of markets and competitors. This is certainly important but should not be the only factor to determine your strategy. Rather, you must also find tools to holistically orchestrate the strategizing process throughout your organization. For instance, use Miro boards in workshops to bring together strategy, leadership, culture, and organizational structure. Amplify this holistic approach with the Dynamogram software. Use MS Teams to share documents between workstreams (if you still have them). And use Slack or Coyo to involve all important parts of your organization in real time. The results will be astonishing!

We hope that these were some valuable inputs regarding the exciting “Strategy as Practice” approach. Now, are you ready to start strategizing?

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