Strategy Savvy: Balanced Strategy Development Approach Using Insights, Culture, Operations, and Digitization

The COVID-19 pandemic has questioned the need for strategy and the value of strategic planning and management. This book proposes a new approach to strategy development and implementation that focuses on Proactivity and Sustainability, addressing VUCA and creating unprecedented growth opportunities in Society 5.0. It combines formal planning with practice and intuition, driven by four propellers: insights, culture, operations, and digitization, to ensure a better future.

Format: Hardback
Length: 246 pages
Publication date: 11 August 2022
Publisher: Taylor & Francis Ltd

The COVID-19 pandemic has sparked a significant debate among business leaders regarding the relevance of strategy and the value of strategic planning and management in today's dynamic environment. This book aims to provide compelling evidence that our approach to strategy development and implementation needs to undergo a transformative shift to effectively support organizations in their quest for change.

The proposed new approach outlined in this book offers valuable insights and perspectives to ensure that strategy remains relevant in the ever-evolving landscape. By adopting a "Making the Future Happen Today" way of thinking and living, readers will gain valuable tools to develop and execute winning strategies.

While many strategy books primarily focus on the perspective of large multinational corporations with the resources and capabilities to employ structured methodologies and tools, this book introduces a fresh dimension by highlighting the significance of Strategy-as-Practice (SaP), intuition, and serendipity. These complementary elements can be equally valuable to large corporations, small- and medium-sized enterprises (SMEs), and entrepreneurs alike in their pursuit of strategic success.

The author delves into the theory that becoming a Strategy Savvy professional involves embracing two critical concepts in strategy development: proactivity and sustainability. This book addresses the opportunities and challenges posed by the VUCA (Volatility, Uncertainty, Complexity, and Ambiguity) environment and provides practical strategies for capitalizing on these opportunities to drive unprecedented growth in Society 5.0, which is shaping the new economies of the Digital Economy, the Experience Economy, the Sharing Economy, the GIG Economy, the Purpose Economy, and the Circular Economy.

Furthermore, the author proposes a comprehensive framework for developing and implementing a Strategy-as-Practice approach, which includes the following

* Embracing Proactivity: The author emphasizes the importance of taking a proactive stance in strategy development, recognizing that the future is not predetermined and that opportunities can arise from unexpected sources. By embracing proactivity, organizations can proactively.
* Embracing Sustainability: The author underscores the significance of integrating sustainability principles into strategy development, recognizing that businesses have a responsibility to consider their impact on society, the environment, and the broader community. By embracing sustainability, organizations can create long-term value and contribute to the well-being of society.
* Developing a Strategy-as-Practice Mindset: The author proposes a mindset shift that encourages organizations to view strategy as an ongoing, iterative process rather than a one-time event. By adopting a Strategy-as-Practice mindset, organizations can continuously adapt and refine their strategies based on changing market conditions, customer needs, and technological advancements.
* Integrating Intuition and Serendipity: The author recognizes the role of intuition and serendipity in strategy development, acknowledging that these elements can provide valuable insights and opportunities that may not be captured through traditional analytical approaches. By integrating intuition and serendipity into the strategy development process, organizations can tap into the collective wisdom of their teams and foster a culture of innovation and creativity.
* Embracing Technology and Data: The author emphasizes the importance of leveraging technology and data in strategy development, recognizing that these tools can provide valuable insights and enable organizations to make data-driven decisions. By integrating technology and data into the strategy development process, organizations can gain a competitive advantage and stay ahead of the curve.
* Building a Strategy-as-Practice Culture: The author proposes the development of a culture that values strategy-as-practice and encourages collaboration and learning among team members. By building a Strategy-as-Practice culture, organizations can foster a sense of ownership and commitment to the strategy development process, ensuring that everyone is aligned and working towards the same goals.

In conclusion, this book offers a fresh perspective on strategy development and implementation, highlighting the importance of proactivity, sustainability, a Strategy-as-Practice mindset, intuition and serendipity, technology and data, and building a Strategy-as-Practice culture. By adopting these principles, organizations can navigate the challenges of the VUCA environment and create long-term value for their stakeholders. The proposed framework provides practical tools and strategies for developing and implementing a winning strategy, regardless of the size or industry of an organization.

Weight: 640g
Dimension: 254 x 178 (mm)
ISBN-13: 9781032249674