Change is happening at exponential rates. This has happening for some time. The world of manufacturing is moving quickly, and technology even quicker. We have AI and IOT influencing Industry 4.0 but the pace at which technology is changing, is way beyond that the adoption rate , particularly in certain industries.
Senior leaders have been wrestling with strategy for years. There has been a trend over the last few decades of linking metrics to strategy. This has obvious benefits, but can be counter productive. An article in the September issue of the HBR highlights an example, where this has gone spectacularly wrong. Wells Fargo was an extreme example of where using metrics to drive sales induced staff to setup deposit and credit card accounts without the client consent.There were significant fines, reimbursement of fees and the consequent loss of reputation.
There is considerable debate about strategy, both ongoing or as part of a new initiative or launch . Company or project strategy needs to linked, or support the "Vision" . It can take time to build a strategy, especially if you are working in a complex environment, multiple inputs and/or multiple stakeholders. If we want to achieve ROI on our strategy, it needs to be understandable , drive employee engagement, involve an element of cultural transformation and be executable. The cultural transformation is the hardest piece, because this will require individuals to change. People are creatures of habit, and don't like change. Significant change always pushes people out side their personal comfort zones. There is an argument that says we can get our strategy to fit our current culture, but there is a high chance in the rapidly changing market place, we will end up sub optimising our strategy. I recently heard a great quote in a presentation, "Culture eats Strategy for Breakfast".
There is a considerable amount of material on how to be more personally effective. This is a hot topic as the world becomes more complex, there are greater expectations on individuals and timelines are getting shorter.
I have been fortunate enough to attend a couple of events recently, one in Cambridge and one in Milton Keynes on the impact of digital technology , such as AI & I.o.T . Over and above the technological advances there was one recurring theme, that of acceptance.