An interesting article been recently published in McKinsey Quarterly on how the strategy is getting redefined now.
Predicting the future is arguably the most important and hardest task facing strategists. One way of loading the dice in their favor: scrutinizing the demographic, technological, environmental, macroeconomic, and other long-term forces constantly shaping the global economy. The most eye-opening implications typically lurk at the intersections where multiple trends interact with one another, often in complex and not-so-obvious ways. Moreover, to analyze trends successfully, executives must develop a fine-grained understanding of the potential impact for specific geographies and industries.
How can company strategists spot the next big opportunity or looming threat in their industries before it’s apparent to everyone? There is a four-step methodology for making global trends part of a scenario-based strategic-planning process. By bringing together trends and their interactions, industry-specific insights, and problem-solving techniques, this approach helps create quantitative, actionable, and unbiased scenarios for what might happen in the next five to ten years. Better scenarios, in turn, can help companies challenge conventional wisdom, pressure-test existing business models, identify market opportunities, and develop more innovative products and services.
Four-step methodology
• Establish the reference frame
• Expand the solution space
• Define scenarios
• Quantify industry impact
(Image source: Memebox.com)
No comments:
Post a Comment