Finding Strategic Vision in Turbulent Times

A recent article in The Change Leader discussed how to navigate a strategic course during chaotic circumstances. Focused on the higher education market, it highlighted the significant toll recent market changes have taken on colleges and universities and offered thoughts on how institutions can survive during times of upheaval. Timely advice, given the pandemic. Except it was actually written in January 2020, weeks before COVID-19 would sweep the world and take higher education into even greater depths of uncertainty.

I share this example because it’s a clear reminder that uncertainty and chaos in business are not confined to global pandemics. 2020 may feel like a topsy-turvy year, but its brought to the forefront an immutable truth about business: no matter how much you plan and strategize, forces outside of your control can and will require you to alter your course.

Rather than stick dogmatically to a business strategy built on expectations, with the hope that any unforeseen course corrections would be few or easily overcome, instead work to instill within your business and your team the ability to withstand the forces of change. 

Unsure where to start? Consider these three steps.

Stabilize the core

If you’ve spent any time on your physical fitness, the term ‘stabilize the core’ makes a great deal of sense. When the core of your body is strong, every other activity becomes easier to do and delivers greater results. It is a similar outcome in business.

What is at the core of your company? What is your main purpose for doing business? What lies at the heart of your mission or vision? What activities directly support your core?

Once you have identified the core purposes behind your company, make sure your strategy moves outward from there. Carefully consider how each activity or initiative serves your core. If you can’t draw a strategic line to it, assess whether it’s the right choice for you. It’s not hard to find real-world examples of companies who forgot their core and failed spectacularly, which may be the reason you’re not reading this article from your Google glasses while you sip a New Coke. 

It is far easier to reign in or redirect from the core when tumultuous times set in, rather than completely overhaul because business plans had strayed too far from the center.

Look beyond market forces

One of the first things a therapist or mental health expert will say to someone facing a crisis is to step outside of themselves for a moment – to look up, look out, look anywhere except at the vortex of chaos causing the stress or pain. When the news around us feels too daunting, for example, the best advice we can take is to simply turn it off, to unplug and to spend time with what is right in front of us and matters most.

Is it any wonder that this tried-and-true wisdom would apply to business as well? It’s so easy to be swept up in market forces that are far greater than your company alone. It is, of course, necessary to track your industry and the overall market, to follow trends and to stay apprised of the shifting winds of change. Being too tied into those things, however, can make you an unsteady leader, one who is quick to want to react to every upheaval – perceived or otherwise.

When times get hectic, take a look at what is working for your business. Can you magnify that? Are your competitors making cuts or dialing back their marketing efforts? Perhaps this is a time for you to double down and demonstrate stability, confidence and longevity. If you take your eye off the swirling winds around you, your company’s vision and strategy become far more clear. Focus on how you can remain unshakeable and go back to your core again.

Get creative

Challenging times often call for the greatest creativity, a reason to be open to outside-the-box thinking and new ideas. The need to be resourceful often breeds creativity and can yield some of your greatest business wins.

The consultancy group Creativity at Work highlights how creativity should be embedded in company culture. Founder Linda Naiman says companies can tap into greater creativity by fostering an environment that values “independent thinking, risk taking, and learning.” She goes on to describe creative leaders as those who are tolerant of failure and who value diversity. As she explains, “people and organizations flourish when they focus on human ideals, achievements, and best practices.”

Seeking creative approaches in tumultuous times is what allows us to turn lemons into lemonade. Creativity rarely exists in a bubble – now is the time to tap into the collective capabilities of your team and encourage new ideas and different avenues to tackling business goals rather than those that may not be serving you as well as they could. Sometimes difficult times make it easier to be open-minded about change and can open doors to new and exciting business growth previously unimagined by the status quo.

Whether a global pandemic, a market crash, the unpredictability of Mother Nature or any other unforeseen circumstance, topsy-turvy times come to all of us. StrategyBlocks is here to help with the necessary tools and analysis that make it easier to lead no matter the disruptive forces impacting your business. Contact us today and let us walk you through how our platform lets you effectively and proactively manage risk and plan for success.