The dynamism of the world seems to speed up at an ever increasing rate. Technological advances are the breeding grounds for disruptive innovations, creating new opportunities for upstarts while wreaking havoc with established business models. The fast pace of today’s world does not mean that strategic management should be thrown out the window. A long term vision is still invaluable for providing a sense of direction for stakeholders.

Strategic planning traditionally produced a document covering a specific length of time and lists of objectives, strategies and projects. However, companies relying on traditional strategic plans are rarely able to address new and unforeseen opportunities and threats.

In a rapid-response environment, strategic plan elements need to be evaluated on their real world merits on a regular basis. Organizations need to find the right balance between the solid footing provided by focusing on efficiency and stability on the one hand, while directing efforts towards characteristics like differentiation, innovation and flexibility.

Strategic management can no longer be considered in terms of a project to produce a plan followed by an annual revisiting of the report. Nowadays strategic management should be considered an ongoing process with management continuously on the lookout for opportunities and threats, as they find ways to adapt the organization’s resources to meet new challenges.

Contact us to find out how we can help get your forward looking process back on the right track.