Rethinking strategy for changing times

Strap yourself in, it’s going to get fast

If a week is a long time in politics, three years is an eternity in business. The speed of technological, social, political and economic change is rapid, and as is illustrated by global events such as Brexit, sometimes unpredictable. Decisions made by global leaders can impact whole industries with little notice and less consultation.

Traditional strategic plans for corporations are blueprints for development over a three- to five-year time frame. Let’s do a tiny experiment in time travel. If you got into a room with your colleagues at the start of 2013 to work on a three- to five-year strategy for your business, you did so making assumptions about the trends that would shape your markets, your access to labor, your competition.

Now, look around at the business environment. How many of those priorities, drivers and forces remain in place today? Disruption and seismic shifts are the new normal. The forces that require a strategic response today are, for many industries or sectors, already significantly different to what had been anticipated even three years ago.

How can communicators establish a strategic response to changing times?

  • Become part of the planning team
  • Treat strategy as a process, not a product
  • No more set and forget
  • Understand the relationship between strategy and bottom line

Organizations exist for a purpose, and for the majority, that purpose is financial return. The process of strategic planning provides direction for all parts of an organization to align to deliver on the purpose, through building capability, responding to external factors, mitigating issues and risks and focusing effort. The opportunity for communication is to contribute to the business outcome through the tools and capabilities of our profession.

This is an extract from my article for Communication World, Rethinking Strategic Communication for Changing Times – Communication World in the February edition of Communication World.

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