14 Jun Lead Through Volatility With Adaptive Strategy
Gartner’s research sheds light on the importance of adopting an adaptive strategy approach to thrive in today’s dynamic digital world. The four core practices provided by Gartner can be customized to address specific strategy challenges, empowering businesses to swiftly respond to opportunities and risks.
1. Execute as soon as possible: In the fast-paced digital landscape, speed is crucial. By promptly implementing the strategy, businesses can identify and address flaws early, ensuring its relevance and effectiveness.
2. Respond to changes as they occur: Traditional yearly strategy reviews are no longer sufficient. An adaptive organization continuously monitors its environment, allowing for timely revisions to the strategy based on emerging information.
3. Embrace and explore uncertainty: Flourishing in an unpredictable environment requires embracing risk and agile decision-making. An adaptive strategy equips businesses to navigate uncertainty effectively and mitigate risks proactively.
4. Involve everyone in strategic planning: Embracing inclusivity and collaboration is essential for an adaptive strategy. Engaging a diverse range of stakeholders enhances the ability to create, revise, and execute the strategy successfully.
To succeed with adaptive strategies, organizations must be capable of making swift changes in their strategic goals. This may entail adjustments in operational plans, finances, responsibilities, and team structures, ultimately necessitating an adaptive operating model.