Entrue World 2009 Conference
"Strategic Agility in the Age of Uncertainty : Unleashing Growth"
Entrue World 2009 Conference: "Post Crisis: the Next Wave of Growth"
Seoul, Korea, 7 and 8 April 2009
In the wake of the financial crisis in the US, and the worldwide recession it triggered, we need a new approach to strategy. Just hunkering down and cutting costs and ambitions won't work. How can we unleash growth in an the age of low resources and high uncertainty?
|First the age old approach to strategy. This calls for a more open strategy process, run in real time not according to planning and budgeting cycles, where we could deliberately plan and then programmatically execute will no longer work. We need the agility to constantly adjust direction, rethink options in fast developing situations. In short we need to complement, or perhaps even substitute foresight with insight: The collective ability to make sense of fast changing strategic situations as they develop. This in turn is rooted in a more open and participative strategy process, a more vibrant dialogue around strategy, constant watchful attention to weak signals as they appear and a language that is both rooted in context and lifted by strong concepts.|
|Second, more than ever the new business building skills are going to be in scarce supply, in particular as companies mature. We need a systematic, creative but disciplined process for new business building, devoting attention to the unseen needs we can address, the mustering and arraying of complementary resources we need, the quality of business building teams, and the supportive nature of the context we build around them. The age of easy growth is over; we need very thoughtful and systematic actionable approaches to new business building.|
|Entering new territories in a period of resource scarcity and strategic uncertainty will also call for a new form of leadership. Visionary leaders providing strong guidance will not suffice any more. We collectively need to discover the path, and constantly adapt to new complex challenges. This calls for teamwork at the top. This may be a particular challenge for Korean companies given their strong sense of hierarchy and seniority and the prevalence of strong individual leaders.|