The New Business Strategy Paradigm: Make It Simple and Make It Work

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Lynne Norton
8 years ago
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1 Strategy in Action. The New Business Strategy Paradigm: Make It Simple and Make It Work CGCIC Breakfast Seminar, April 11, 2012, Toronto Key Results Organizations look to apply the new strategy paradigm in face of a fast-changing business environment, caused by increasing competition from emerging markets and rapidly changing customer demands. The new paradigm is characterized by: a significantly accelerated strategy definition phase a powerful momentum for strategy execution, and a consistent implementation by leveraging the five strategy success dimensions. As demonstrated by the best-in-class companies, organizations that apply the new strategy paradigm gain a sustained competitive advantage. An important precondition is to have a simple strategy model and strategy development process. Most organizations miss this point. Their strategy processes are too complex. See flip charts below The most simple and clear strategy model and strategy process. The strategy creation process consists of the following steps: The first two process steps are to define and to agree with the entire leadership team on the organizations mission ( why do you do what you do? ) and to create a compelling vision ( where do we want to be in 2-5 years? ). These are the two key strategy elements that create an emotional connection with all members of the organization. The next steps include defining strategic themes, initiatives and their owners, and measures of success. The paradigm shift always needs willpower and often benefits from external support. Results show up quickly. More Resources New Pace Friday noon memo: New Pace Video series about rapid results: Personal meeting: call or v.voelzke@newpaceconsulting.com Seminar Leader Volkmar Völzke CEO, New Pace Consulting New Pace Consulting SA/Inc. contact@newpaceconsulting.com Page 1 of 6

fast-changing business environment, caused by increasing competition from emerging markets and rapidly changing customer demands.

2 Flip Charts The Five Dimensions of a successful strategy Validity of content Clarity and simplicity Positive emotions Accountability, care Accomplishments, measures of success New Pace Consulting SA/Inc. contact@newpaceconsulting.com Page 2 of 6

care Accomplishments, measures of success New Pace Consulting

3 The difference between the old and the new strategy paradigms Return on Strategy New strategy paradigm Old strategy paradigm Momentum These five dimensions create a powerful momentum for successful strategy execution: 1. Validity of content 2. Clarity and simplicity 3. Positive emotions 4. Accountability, care 5. Accomplishments, measures of success New Pace Consulting SA/Inc. contact@newpaceconsulting.com Page 3 of 6

1. Validity of content 2. Clarity and simplicity 3. Positive emotions 4. Accountability, care 5.

4 Assess the strategy success level of your organization: Rate the level for each of the five strategy success dimensions on a scale from 1 to 10. New Pace Consulting SA/Inc. contact@newpaceconsulting.com Page 4 of 6

5 The most simple and clear strategy model Mission Core Values Current situation The most important element is a compelling vision that is shared with the entire organization. Formula for vision statement: By the end of (year) we want to have achieved / have become (goal) in / as / for (niche / market). New Pace Consulting SA/Inc. contact@newpaceconsulting.com Page 5 of 6

Formula for vision statement: By the end of (year) we want to have achieved / have become (goal) in

6 Strategy Process By applying this process, the leadership team of any organization is able to create a consistent business strategy within less than a day. New Pace Consulting SA/Inc. contact@newpaceconsulting.com Page 6 of 6