The short answer is that we live in a rapidly changing world. The pace at which businesses operate, customer demands shift, the economy fluctuates, and new advances in science and technology are developed is much faster now than ever before! This does not mean that you have to constantly change WHO or WHAT you want to become as an organization. You will likely stick with the same vision and objective statements for the year. However, you can change HOW you achieve these statements of intent as you gather data, and that is why continuous strategy iteration becomes so valuable!
There are 4 specific reasons why it is critical for all organizations to think differently about strategic planning:
Relevancy: In order to win in your market, become world class, and retain or grow our customer base, we must remain relevant and competitive. This means that we must pay attention to how customer needs shift and adjust our Go-To-Market strategy to fit those needs.
Employee Expectations: Gone are the days when employees were satisfied by just receiving a paycheck from their employer. As millennials and Gen Z employees begin to dominate our workforce, the desires for an engaging career that provides meaning and purpose will increase. Aligning and prioritizing the work of each team to the overall strategic objectives helps instill this sense of meaning for all employees.
Evolution of AI: Artificial intelligence increases efficiency and productivity. Let’s embrace this in the strategy development process and use our human brain power to think critically about strategic alignment and future state outcomes, while utilizing Chat GTP and other AI sources to provide initial ideas and help us fine tune our wording.
Burnout: It is too overwhelming to do everything. If each team within an organization jumped on every new idea that came to their minds and tried to accomplish every large project in a given year, the result would likely be burnout, high turnover, and eventually decreased productivity and engagement. As our world speeds up, it is critical that we focus the work of our teams on what will truly help us achieve our strategic objectives.
For this month’s mindfulness practice, I will recommend the “To Do” List Redo:
Rather than creating to do lists and going through each day trying to check off tasks, use mindfulness to determine your highest priorities.
Ask yourself “How are each of these tasks connected to my vision and strategy?” or “What outcome am I hoping to gain from completing this task?”
If you have a hard time answering these questions, consider whether you still need to complete the task!
In the next blog post, I will provide more detail on what continuous strategy iteration entails. In the meantime, you can visit my resources page to download tools to help you learn more about the concept of continuous strategy iteration and the OKR methodology!
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