I don't know if strategic management has gotten easier or harder over the years, but it certainly has gotten more complicated.
Picking one business strategy model for your business is akin to only eating one type of food group in the quest for a perfect diet.
While there is no perfect business strategy model for a company or organization, it's important to be aware of the different strategy models and the benefits and drawbacks to each.
As business strategy consultants it's our job to stay up on the trends in strategic management and innovation as well as what's going on in the competitive landscape for different industries.
As a manger or leader of an organization it's your job to understand how the different strategy frameworks apply to your company and where your specific competitive advantage lies.
Below is a compilation of the different strategy frameworks and models that have been created and built on since 1958.
As you can see the 90's was a boom of management innovation as companies were equipped to build and deploy global workforces, as well as be challenged from the global workforces of their competitors.
As we move into the digital age where technology companies are searching to maximize their company values for their investors and ultimately exit in the span of a few short years, what affect with that have on strategy models?
In addition the external factors like climate change, a growing middle class in China and India, aging senior leaders, and a workforce that has been surrounded be technology from birth, as well as a desire for personal satisfaction from work more than any generation before, create opportunities for organizations to foster an environment that supports the people and their desire to change the world.
These world changing strategy models will be built upon people and their ability to integrate with technologies to innovate, solve the world's problems, and address the human component of business.
Something like an industrial revolution where people combined with machines are leading to new capabilities.
What business strategy model does your company need to be using?
The ones that work for you.
At the end of the day, strategy models are just frameworks to help you guide your decision-making, track your performance and help move your organization move forward.
Your company might be using a strategy model right now that could belong on the list above.
Organizations are moving so fast and disrupting the status quo like never before in history.
Those disruptions, those changes, are the strategy models of the future. Strategic Management will always exist, to be successful in this changing environment you just need to be aware of the speed of changes, and do what you need to in order to catch the wave and not get crushed by it.
Considering an update to your stratetic plan? Here is a sample 2 day strategic planning agenda.
We also offer half day strategy sessions - contact us for more information or a consultation