Achieving 20/20 Strategic Vision In 2020
Change, by its very nature is disruptive. Having worked in the business of strategy for well over a decade, we see firsthand how tumultuous it can be to undergo change within an organization. The reality is that most change is positive, even if sometimes the process feels rough. Change can be the necessary force behind pushing through that wall toward a better opportunity – whether that means new company growth, new partnerships, new customers, new leadership and sometimes all of the above.
The process of transitioning from one year to the next inevitably sparks a cascade of change for most companies. Whether subtle, interdepartmental updates or sweeping initiatives, starting a new year fresh seems like the ideal time to reflect, adjust and adapt.
Helping companies navigate change is a big part of our business, and because disruptive transformation has hit pretty much every industry around the world, we at StrategyBlocks have kept our finger on the pulse of the hottest trends in strategy management. As another year closes, now is the ideal time to prepare a strategic plan that can guide your company through the future, whether that be met with growth, challenges, successes, setbacks or all over the above.
In 2020 transformational strategic execution will take a big step forward and will lead the way into a new and exciting era of strategic execution for business leaders all over the world. Here are just a few ways we’ll see transformational strategy take hold.
Leaders will be recognized from all departments, not just the C suite
The massive wave of digital transformation has had an interesting side effect on the organization – it’s highlighted the strengths of various departments and opened the door to new leadership opportunities outside of the C-suite.
In order to adapt and keep pace with the agile, real time demands of today’s work environments, a traditional funnel system of decision making doesn’t always work. Decisions need to be made in real time, with the people who have direct access. This enables all kinds of employees within the organization to shine, and allows managers and executives a chance to democratize decision making and focus on broader business goals.
In the year ahead, as transformational change takes root, we’ll see individuals shine at every level of the organization and new leaders emerge who can help navigate important milestones for the company.
The strategy-execution gap will start to close
There’s an oft-cited statistic which says executives lose 40% of their strategy’s potential value to breakdowns in execution. It’s not that the strategy itself is flawed, rather there is a disconnect between the planning and the actual doing.
This disconnect may not feel significant, but it can result in failed goals, missed opportunities, loss in revenue or being outwitted by the competition. In other words, it matters.
As with most transitional periods, it’s hard to know when to update or change the way something has always been done. In this era of disruption, the old method of ‘plan first, then do’ isn’t working. Companies now realize that the execution of strategy has to be more agile and reflect the real time nature of the rest of the business.
The good news is we are seeing the gap between strategy and execution start to narrow, and as companies embrace the disruptive forces of change throughout the organization they will be better equipped to turn strategic plans into actionable results.
More companies will see the value in strategic tools
One of Gartner’s predictions for 2020 is that more companies will be moving towards hyperautomation. As this transition happens, technology will play a central role in everything from operations to business processes to operational intelligence. It will soon become impossible to navigate the pace of change, regardless of the size of your organization, without technically-robust strategic tools.
In addition to hyperautomation, Gartner predicts that by 2021 at least 30% of all enterprises will have moved to a multiexperience, creating immersive experiences with customers across many platforms, and with a wide variety of technologies. This includes traditional web and mobile and moving into conversational AI and augmented reality.
With this level of technical integration it’s clear that strategic tools need to embrace new levels of functionality and core deliverables. Companies will increasingly rely on integrated strategic platforms that allow for actionable insights at every level of the organization.
2020 will bring important new tools to the StrategyBlocks platform
At StrategyBlocks, we’re working on exciting new extensions to our products that help make transformational strategic execution more visual, easier to track and – most importantly – more successful.
In 2020 we’ll be taking the concept of transformational strategic execution to an entirely new level. Keep a close eye on this space as we share more about how our strategy tools will help your company successfully execute any level of change. We know 2020 represents big things for your organization, and we’re excited to be a part of it!
Until then, we wish you a wonderful holiday season and the happiest of New Years.