How to Make Strategic Processes Smart

One of the most important organizational processes a smart business needs to change is how it formulates and implements strategy.1 Strategy no longer means long-range planning. It’s not even short-range planning. It’s not planning.

Fundamentally, strategy making is now a dynamic and fluid process, akin to learning. The classical approach of analyze, plan, and execute is much too slow and inflexible for today’s environment. Instead of formal planning, strategy formulation is the constant and rapid iteration between vision and action. Constant experimentation creates feedback, which leads to adjustment of the vision, which in turn guides new experiments. Strategy is constantly updated ...

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