As strategic planning activities peak during the fourth quarter, companies and organizations are being forced to consider major shifts in the business environment, i.e., hybrid work setups, the acceleration of digital adoption among consumers and stakeholders, and the possibility of another Covid-19 surge. How can you plan for heightened uncertainties and complexities in today's environment? In our strategic planning consulting practice, we avoid the linear and sequential approach. Instead, we apply an approach called sense-making, referring to "how we structure the unknown so as to be able to act in it," according to Prof. Deborah Ancona of the MIT Sloan School of Management.
We also employ various frameworks that map the competitive landscape of an organization's industry, including levels of investment in various factors. We employ the business model canvas to map an organization's current and future activities that deliver value to its customers. We also map the potential impact of black and grey swans using scenario mapping. These maps, along with others, are extremely powerful visuals and tools to help leaders frame their competitive environment.
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