Flexible Business Strategy
Einstein once said that “insanity is doing the same thing over and over again and expecting different results.” Business strategy is a bridge between the firm in its present state and its future. Strategy analyzes the scenarios and defines the solutions for anticipated obstacles that a company could face. It provides leaders with the most efficient roadmap to achieve future wins while mitigating risks. As global business fundamentals, technologies, and economic environments are constantly changing around the world, it is critical to periodically revisit a strategic plan after its adoption. Businesses constantly face obstacles and opportunities; but the question remains: is the corporate or business strategy flexible enough to adapt to changing market conditions while maintaining alignment with stated conditions and the overarching vision?
In the light of the wave of disruption that is reshaping global businesses and economies, accelerated by the massive disruptions in 2020, companies have witnessed first-hand the importance of having strategic flexibility. They have responded, one way or another, to major external changes by reallocating critical resources. They also had to foresee future trends and pivot their businesses swiftly to avoid future shocks to the best of their abilities. Strategic flexibility can be an important asset to help companies react to abrupt changes effectively, be it in a global pandemic, a new market entrant, or a newly adopted disruptive technology.
Flexible strategies reduce response time, increase the range of available countermeasures, and illuminate what the business should focus on in the near, medium, and long terms. By revisiting initial strategic plans periodically, firms can make the necessary adjustments to validate their plans and keep them relevant.
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At Lodestone Advisory Group, we support our clients in thinking through the ever-changing dynamics in the world of business; we also help them devise and execute strategies to address complex business issues to compete in a global marketplace. Over the years, among several other things that we take pride in accomplishing, we have supported our partners in designing and launching international accelerators and innovation hubs, we have advised and invested in successful start-ups and supported them in their quest for sustainable growth, we have advised on public-private partnerships that led to successful commercialization efforts, we have supported business turnaround/transformation efforts, and we have advised on transactions and collaborations between large organizations and small businesses providing small businesses with access to global resources and large organizations with long-term value creation opportunities. To learn more, please follow us on LinkedIn and Twitter and feel free to contact us at info@lodestoneadvisory.com or reach out to one of our team members.