Business strategy at its very core is about honing in on what makes something work, and formulating a plan in order to capitalise on pre-established areas of success, as well as preparing for future growth. Innovations in business strategy are currently one of the major avenues of technological and social advancement, and for good reason – a healthy strategy is at the very core of every organisation.
By aligning the things that work with what the projected outcomes of advancement and development, a well-strategised company can plan ahead and even avoid catastrophes that other firms don’t see coming.
Community and strategy
The word ‘community’ is thrown a lot these days. From the Gig Economy to the Uber community, corporations are aware the connectivity of devices and strategies has a human element to it – we’re all increasingly more connected.
Charlie Brown, Founder and CEO of Context Partners, a company that specialise in inter-connectivity, told Forbes magazine recently that innovations surrounding the Internet of Things (IoT) mean that it is now easier than ever before to shift information around.
“The three shifts are positioning ‘community’ as the new nexus of strategy; and of course it no longer requires geographic proximity. The flow and desire of people, virtually and across boundaries, towards different kinds of ‘belonging’ is creating new business opportunities for savvy leaders,” said Mr. Brown.
Mr. Brown claims that while technology that allows for a more advanced and accurate strategy is the facilitator, the real developments are occurring on social, psychological and organisational levels.
“The first shift is ubiquitous information: everything more transparent, everyone more specialised. Second is identity. Everyone now wants to engage with companies, organisations or products that reinforce who they are. We’re all trying to connect ourselves with particular values, and something bigger than our own lives,” said Mr. Brown.
Building a networked strategy
According to technical innovation website ZDNet, the on-trend developments in the world of business and technology focus primarily on five key elements fall under the following headings:
- Strategic – Example; team collaboration, the cloud.
- Tactical – Example; wearable IT.
- Incremental – Example; hybrid cloud.
- Disruptive – Example; collaborative economy.
- Horizon – Example; mind-machine interfaces.
Building a networked strategy is an important part of any business plan. Both prescriptive analytics and web-based software services help organisations successfully implement strategies, but ultimately a solid networked strategy includes psychological and social aspects also. For more information on how StrategyBlocks can help you, get in touch today.