Strategy – no longer a “once and done” process
In the turbulent conditions of today’s fast changing and dynamic business environments, many companies and their executives experience that the strategy process has become much more complex and they question whether strategy is even possible anymore – claiming that it often becomes outdated before even implemented.
Strategy is an organic process – it is an action – and it is no longer only about predicting the future actions of the company based on the analysis of the past and the present. Strategic intuition is one of the things the company should not ignore in order to find the innovative solutions to strategic challenges. You need to build a common understanding about what you as an organization / employee believe that the future will look like and how to navigate in it.
Dynamic and evolving Process
Finally, it is important that the strategy does make it out of the boardroom. Namely, the employees that actually deploy the strategy are the ones buying into it, not the ones that feel that it is their job to deliver it. According to A.T. Kearney’s studies, two thirds of companies that pursue meaningful organizational inclusion in strategy formulation have successful strategies. However, involving the workforce does not just make strategies better and more practical, it also lays the groundwork for engaging the right people in strategy deployment.
“Strategy development is no longer a ‘once and done’ process, it must be a dynamic and evolving process in order to keep pace with the modern business world. Many of the classic strategy tools developed over the last 30 years are still helpful and form an important base for us to evolve our strategies both toward the market and for internal innovation.”
So it sounds from Daryl Dunbar, Strategy lecturer at IME Singapore and Strategy and Innovation Expert. In his Strategy module at IME Mini MBA, Daryl will focus on the core tools you should have in your strategy toolkit and how to apply them using real-world case studies. You will learn when to apply which tool to its best use, how to best interpret the results, and when to adjust your strategy.
Daryl is a master of business rescue and development in large organisations, combining entrepreneurial creativity and pragmatic discipline. He works extensively with organisations ranging from start-ups to large multinational and not-for-profit corporations, particularly in the areas of strategy, innovation, technology, operations, business design, corporate development, and venture capital. He has extensive international and multi-cultural experience in APAC, the US, Europe, and Latin America, having assisted public companies with portfolio strategy, market creation, market expansion, process development and innovation across all areas of business. He is a regular guest speaker at MIT on strategy & innovation and energy efficient IT.
Recently, he was MD APAC for Digital Realty managing $1Bn of assets. Previously, he was Senior Vice President of Innovation for Reed Elsevier and Director of Portfolio Innovation for the BT Group in London. He has also held positions with Enron and BellSouth and co-founded several companies in the technology and internet services space.
Daryl holds a BS in Electrical Engineering from the University of Alabama in Huntsville and has attended Executive Education in Business Administration at Harvard Business School.