Your strategy determines the direction of your business and ultimately its success or failure
The disruption and ambiguity confronting businesses today now means that strategy needs to be revisited more often than was traditionally the case. Product and service lifecycles that historically ran a predictable course, are changing at the fastest rate in history.
Revisiting strategy annually, or on a longer cycle, can put you at a disadvantage. It is not only consumer goods that are fast moving today. While technology, automation and artificial intelligence (AI) is driving change at unprecedented rates they are also providing, and will continue to provide, organisations with considerable strategic options. Maturing data analytics can provide valuable insights into your business, its challenges and opportunities.
Understanding options and making the correct choices is key, not only to improving profitability, but to ensure the ongoing relevance and sustainability of your organisation.
Timing is more important than ever
If you are are conducting strategic workshops every other year or even annually, depending on your industry, you may be may slowly falling behind and perhaps even threatening your long-term future.
Competitors, new entrants and organisations diversifying their product and service offerings create threats but they also offer opportunities for renewal or adjustment of existing strategy.
Digitisation, automation and AI means that many current practices will not exist in five years (World Economic Forum, Forbes). Organisations looking to capitalise on the opportunities provided through technology and automation should be making strategic decisions now, not in five years.
Taking the right steps…
The strategic options available today present great opportunities but also pose significant challenges. i3 Australia can assist to develop, implement and execute strategic options to reduce uncertainty and maximise performance and address some of the challenges including:
- Business model
- Change management
- Integrated governance
- People and culture
- Digitisation / automation
i3 Australia has assisted listed and private companies, government agencies and not-for-profits to formulate strategies designed to improve their profitability, performance and/or sustainability.
Contact us to discuss improving your organisation’s strategy or to find out more about how we facilitate dynamic and engaging strategy sessions.
If companies invested as much time in their strategy as they do in their budgeting process, most would perform a lot better."