A brief history of strategy acceleration
Strategy emerge
When it comes to strategy execution, it’s clear that we’ve come a long way and there are several important lessons that can be learned from looking back at history. This blog series is about succeeding with strategy acceleration but before we move on, let’s start with a short historical look at strategy work.
In the mid-1900s strategies begin to be required for managing a successful business. With the US leading the way, strategies have gradually become more professional, heavy on analysis, and comprehensive.
Business leaders realize the importance of having a strategy in place and documented strategies exist in most companies.
They are characterized by:
- Long-term strategic plans (5-10 years is normal)
- Long execution period
- No anchoring (organizational buy-in)
- Steering by Key Performance Indicators (KPIs) and many targets.
- The emergence of steering and performance measures through KPIs. Companies set targets and use KPIs to measure results.
If we fast-forward to around the year 2000, research shows that nine out of 10 implementations fail to be implemented successfully. There is a growing need for faster strategy execution and a process to better steer and measure progress and results. Concepts like strategy acceleration and business agile emerge.
They are characterized by:
- Adjustment to an increasingly changing world with demands for a faster pace of change
- A need for a shorter timeline to execute plans (1 – maximum 3 years) and a faster strategy execution
- Measuring of both results and progress (that the correct actions are taken in pursuit of the target)
- Focus on fewer and the most important goals
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