Focus on these 3 time horizons for your strategy – Fail Fast – Fail Often
The first thing we need to understand is what exactly are the most pressing problems right now.
Based on the inputs collected, the next step is to model scenarios for the future.
Learn Fast and Share Broadly
As you iterate your way forward, make sure to share the learnings broadly in the organization. Every experiment tells you something about the nature of the (new) reality, and the organization needs to know. Increase your learning cycles to skill up faster and make sure that everyone gets the benefit of the new knowledge created.
Companies should be looking at strategic planning for this year, next year and the period beginning in 2025, as well as running scenarios for key business drivers — and their opposites, write Sebastian Mueller and Max-F. Scheichenost. “Scenarios need to be regularly updated, as, over time, the certainty of direction will increase; therefore, the initial portfolio will also have to be adjusted as well,” they write.