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strategy lately?
Group 4
Adyasa Mishra
Santosh Jena
Sudhanshu Sekhar
Anshupa Patel
Dhriti Gautam
Medha Sharma
THE NEED FOR TESTING OUR STRATEGIES
intuitively
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Test 1: WILL YOUR STRATEGY BEAT THE
MARKET?
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Test 4: DOES YOUR STRATEGY PUT YOU AHEAD
OF TRENDS?
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Test 5: DOES YOUR STRATEGY REST ON
PRIVILEGED INSIGHTS?
▰ Data today is cheap and leaves many ▰ Supermarket chain recently redesigned its
feeling comfortable with an informed store network strategy based on
strategy clustering algorithm
▰ Diverts attention from where insight ▰ Experience the world through customers
creating advantage lies perspective
▰ Develop proprietary insights by creating list
of questions which can have an impact on
company's strategy
▰ Collect field data rather than industry
reports
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Test 6: DOES YOUR STRATEGY EMBRACE
UNCERTAINTY?
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Test 7: DOES THE STRATEGY BALANCE
COMMITMENT AND FLEXIBILITY?
Market-beating strategy
▰ Commitment and flexibility are in inverse Focus on critical, high commitment choices
proportion to each other, hence there is a Strategy built as a portfolio:
trade-off
▰ Big-bets
▰ Choice of decisions which are strategic and
expect commitment matters
▰ No-regret moves
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Test 8: IS YOUR STRATEGY CONTAMINATED BY
BIAS?
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Cures and suggestions
Premortem assessment
▰ Developing multiple hypotheses & potential ▰ Imagining a negative outcome of the
solutions unlike current practice of decision made and designing contingency
choosing one plans
▰ Bringing fresh eyes to the issues and ▰ Predicting mistakes and contemplating on
maintaining culture of change the reasons
▰ Specifying objective decision criteria in
advance & examining possibilities of mis-
happenings
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Test 9 : IS THERE CONVICTION TO ACT ON YOUR
OWN STRATEGY
▰ Test to know the investment made for ▰ Management must make sure that the whole
the strategy is worth or not team actually shares the new beliefs that
▰ Good strategies fall short in support it
implementation because of an absence ▰ visit plants and customers or tour a country
of conviction , just one nonbelievers can your company plans to enter, so that the
strangle strategic change leadership team can personally meet crucial
▰ To move with implementation, need a stakeholders
process that questions the old
assumptions so to develop a new set of
beliefs
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Test 10 : HAVE YOU TRANSLATED YOUR
STRATEGY INTO AN ACTION PLAN?
▰ In implementing any new strategy, one ▰ Make sure ongoing resource allocation
has to define clearly the shift change with processes are aligned with strategy. For help
respect to company’s business model look where the best people and the most
▰ This is an action plan. Everyone needs to generous budgets are
know what to do, accountable with proper
energy
▰ Senior team should draw on the large
body of research and experience offering
solid advice on change management
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CONCLUSION
▰ Though seemingly obvious, they are random, simultaneous & extremely confusing
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