Renew
Extended period marked by strategic, durable execution across the organization. Key activities:
- Learn to conduct operations processes and workflows in new, repeatable, scalable ways.
- Use lessons learned and emergent patterns from prior phases to coalesce around a new foundation and way forward.
What it takes to lead the renewal phase
Why aren’t the phases sequential? That’s a question I’m often asked when I share this reset framework. In particular, I’m asked: “How can the renew phase overlap with the response?”
It’s an important question — and the answer highlights the importance of deliberately leading the organization to a plausible and sustainable future.
During highly disruptive times, it is possible to think about renewal as you grapple with your triage response and recovery. In fact, if you are an executive leader, it’s not just possible — it’s essential.
I saw this mindset in progressive leaders from the earliest moments of the crisis. By the time the coronavirus outbreak became the COVID-19 pandemic, I was already talking with some corporate directors about how to reimagine their organizations’ futures. These executives didn’t relish the disruption; they knew they must seize the day and look for better ways to operate and reimagine their objectives.
A range of Gartner research, including our CIO Agenda 2020, has shown over time that this kind of agile decision making and strategy setting results in outsized performance — and establishes a lead over the competition that sustains long after the initial disruption. In these unprecedented times, it pays to have this type of dexterous executive committee.
Build resilience
Dexterous resets also build organizational resilience. As you weed out weaknesses in your business and operating models, you’re better positioned to weather the next disruption.
That’s especially important now.
In the absence of a vaccine or cure for COVID-19, any rebound in business activity could easily be followed by another round of response, recover, renew, so the imperative is to absorb lessons learned quickly and build sustainable changes into business and operating models.
But first, you need to determine exactly where and how the crisis has stretched and broken your existing models — and where the risks and opportunities lie as a result.
Coalesce senior and functional leaders around a scenario-planning protocol they can use to identify significant uncertainties and evaluate them in terms of their importance to the future of the enterprise.
And given the highly disrupted environment, create a minimum viable strategy and use adaptive strategy tools and techniques to iterate as your new normal emerges. Make strategic planning a continual activity so it can respond quickly to the inevitable changes in business context.
Reset for a sustainable future
As I said, it’s in the renew phase that wise leaders take the opportunity to reset or rebuild their business models and operations for a new reality.
Gartner outlines the plausible post-pandemic pathways as rescale, reinvent, return, reduce and retire — although many of those pathways aren’t direct.
"strategy" - Google News
July 06, 2020 at 08:58AM
https://ift.tt/2NY5MSb
Reset Your Business Strategy in COVID-19 Recovery - CDOTrends
"strategy" - Google News
https://ift.tt/2Ys7QbK
https://ift.tt/2zRd1Yo
Bagikan Berita Ini
0 Response to "Reset Your Business Strategy in COVID-19 Recovery - CDOTrends"
Post a Comment