- Opinion & Analysis
- Read Time: 9 min
Despite the welter of data and analytics at their disposal, experienced managers often need to rely on gut instinct to make complex decisions under duress.
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Finding the right individuals to fill executive positions has never been easy, and the process is only getting more difficult with increased globalization.
Many executives talk about the need for greater flexibility and adaptability from their companies. But the truth is that most businesses have organized themselves in ways that inherently discourage change.
Few organizations understand the benefits of having tactical planners, who use computer models to optimize the supply chain, in close communication with the senior managers who formulate strategy. The author outlines a planning approach that ensures that critical supply-chain details inform a company’s business strategy and that supply-chain management aligns with the strategic direction.
How a diverse group of IT managers responsible for global technology infrastructure developed a way of working together that enabled Xerox to create and transfer knowledge more effectively.
Successful strategy emerges from a decision process in which executives develop collective intuition, accelerate constructive conflict, maintain decision pacing and avoid politics. As well, in rapidly changing markets, decisions that change a company’s direction arise much more often.
Traditional strategic planning draws from forecasts of parameters like market growth, prices, exchange rates, and input costs that managers are unable to predict five or 10 years in advance with any accuracy. The author discusses a strategy that embodies a coherent portfolio of options, sketches a process managers can use to develop this kind of strategy, and explains how planning and management opportunism can reinforce each other.
On the basis of research into 100 enterprises, the authors developed a helpful strategic tool, the Delta Model. Companies using the framework define strategic positions that reflect new sources of profitability, align the strategic options with their activities, and establish processes that adapt well to change. The researchers outline practical mechanisms for obtaining feedback from the adaptive processes, and they offer critical metrics to track performance.
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