Remain Relevant – Refine Your Strategy
Leadership expert Peter Drucker once said the only companies that succeed are those that not only welcome change, but also lead it. Since changing times often define how businesses work, organizations are adapting their strategies to address evolving competitive challenges. To stay ahead, some leaders are launching new products or services, taking on challenging acquisitions, implementing extra innovation or restructuring business units. If leaders are expected to do all of this – and attend to their daily business – what tools can they use to maintain a competitive edge?
Ever-expanding growth and profit targets, maintaining a competitive edge, and managing technology as well as social disruptions are often par for the course for today’s leaders. Ellen R. Auster and Lisa Hillenbrand, authors of the book Stragility,developed a transformational tactic approach to help leaders implement strategic, agile, people-powered change in the workplace. To remain relevant, consider how you will refine your strategy to identify, refine and execute necessary course corrections. Auster and Hillenbrand offer four diagnostic tools to help you succeed and face change with confidence.
4 Stragility “Diagnostic Tools”
1. Sense and Shift
Strategy should never be static, so you must constantly consider whether and how you need to change your tactics. Reassess your organization’s strategy on an ongoing basis and finetune it as needed. Share this drive for ongoing transformation at every level of your firm. Avoid three-, four- and five-year plans, since “lock-and-load” strategies are not useful in a marketplace that constantly evolves and shifts. Maintain a continual sense of your strategic position, and change your plans accordingly.
Your “Inner Politician” Successful change requires internal political support. Stragility’s remake of your strategy requires the public support of influential people in your organization. Although most people dislike what they perceive as political behavior, change requires paying attention to political signals.
3. Inspire and Engage
Develop a sense of inclusion among the people in your workforce by “fostering ownership and accountability.” To help your employees take responsibility for change, engage and inspire them.
4. Develop Change Fitness
Be aware as you embark on a change initiative that your employees must be enthusiastic and energetic about it or “change fatigue” will burn them out. Be aware that moving through a change program can be complicated, demanding and exhausting. And, while all that is unfolding, you also must take care of your normal daily operations.