Are we really changing?
We have all pretty much accepted that the global economic crisis has caused a fundamental shift in the way we will think about doing business from now on. But have we yet made any fundamental changes to the way we do strategy? Some leading companies have reacted by refusing to publish hard financial targets as they know they may struggle to achieve them. Others are being more thoughtful about what needs to be in their place. How can we convince first our people, then our key stakeholders and shareholders that we do have distinctive organisational attributes and market strengths that will help us stand firm and survive the turbulence – not just in tact, but in fact stronger and more resilient?
Our recent conversations for this research have revealed a new pressure on leaders to be much more explicit about the organisation’s core purpose, its DNA, the unique qualities that are valued by customers and employees alike. This needs to be woven into the strategic thinking right from the start to convince the sceptics that you really do have something to offer.
It would be interesting to know how many companies are reviewing the way they think about strategy in these different times.