STRATEGY IS EVERYONE’S BUSINESS
Open Up Your Strategy
When you think about strategy, what comes to mind? Chances are, a vision of the Executive and Board at an offsite venue, engaging in discussion to form a strategic plan, crafting directives from the top. Leaders, I'm here to nudge you towards a new approach that has openness at its core. It's not just a concept; it's your ticket to harnessing human capital as a powerful force for change that will drive successful execution of the strategy.
Why the Traditional Approach Falls Short
The role of the Executive and Board is more important than ever. The ability to make sense of external forces and trends and how they might impact the organisation in terms of risks and opportunities, is still a major strength of senior and Board leadership.
In the traditional model, strategy is often seen as the domain of the Executive and Board. Decisions are made behind closed doors and then cascaded down for accountability and execution. The communication behind the strategy has been getting better but here's the thing: this century-old method doesn't fully leverage the enormous collaborative advantage that your organisation likely already has at its disposal, both within and outside your organisation.
The prevailing future vision and direction should be set by debate and discussion across the combined group of the Executive and the Board. When it comes to translating that vision into reality…the traditional approach dismisses the fresh perspectives that come from involving others, not just in execution, but right at the genesis of planning, particularly on the ‘how’ of the strategy.
Making Strategy Everyone's Business
Open Strategy advocates for the inclusion of a broader stakeholder base inside and outside the organisation. Why? Because involvement inspires a shared ownership, and ownership supercharges execution. When everyone feels like a vested player, you’re your internal team to your external partners in the system, the 'culture eats strategy for breakfast' mantra shifts from a threat to an asset. Everyone has their skin in the game and contributes not just to the 'what' and 'why' but crucially, starts to own progress and success on the 'how'. This reference to Peter Drucker’s quote is cited by the authors of a classic book on open strategy, who penned an article on A User's Guide to Open Strategy in the Harvard Business Review.
How to Approach Open Strategy
Opening up your strategy doesn't mean opening the floodgates to chaos and endless consultation. It's about targeted inclusivity. When done right, it ensures that the strategies you develop are not only comprehensive but also filled with insights from diverse perspectives. For more information, this article on Theorising Diversity and Inclusion in Open Strategy presents some evidence on including more diverse actors in strategy. Think of it as a way to future-proof your strategy by ensuring the diverse contribution shapes initial input and remains nimble enough to pivot when required.
Empower, Execute, Evolve
By embracing Open Strategy, you're not just delegating details; you're enriching your organisation's ability to flex the strategic activity to achieve your objectives. And this isn't just an executive concern. Everyone involved begins to own a piece of the process, leading to more robust and resilient approach to strategic outcomes. Imagine your strategy like a map, rather than a plan. It doesn’t need to be perfectly detailed from the outset; it just needs to guide, to inspire, and to bring people along.
Take a moment to reflect on how truly open your current strategic processes are. Are you tapping into the potential within and beyond your organisation’s walls? If not, perhaps it's time to rethink and invite more voices into the best ways to achieve your strategic impact. After all, imagine the pull towards the performance results you seek when strategy is everyone's business.
Book a complimentary chat and let's discuss how we could help your organisation harness the collaborative advantage that already exists within and beyond your walls.
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