“Ultimately, strategy is a way of thinking, not a procedural exercise or a set of frameworks” says Chris Bradley, Martin Hirt, and Sven Smit, consultants at Mckinsey. With this in mind and to stimulate that thinking and the dialogue that goes along with it, they have developed a set of tests aimed at helping executives assess the strength of their strategies.
The test is a bit MBA text book like and although it represents a good starting point, it is not dynamic enough for today’s new world of work. You can see the list of ten strategy testers below or read their article in more depth here.
However, Bradley, Hirt and Smit have missed what research from our Innovations & Futures Lab, has revealed are the most business critical elements. We call these elements The new Business SCRIPT:
- Are you able to implement your Strategy @ Speed?
- Does your strategy encourage and nurture Collaboration?
- Do your strategy Results create shared value?
- Does your your strategy encourage and foster an culture of Innovation?
- Does your strategy strengthen the engagement with the People most important to your business?
- How are you Telling the story of your strategy?
If you want to know more about our Implementing strategy @ speed framework and our New Business SCRIPT please contact me or James Dunne
Another ten more strategy tests…McKinsey’s strategy testers:
- Test 1: Will your strategy beat the market?
- Test 2: Does your strategy tap a true source of advantage?
- Test 3: Is your strategy granular about where to compete?
- Test 4: Does your strategy put you ahead of trends?
- Test 5: Does your strategy rest on privileged insights?
- Test 6: Does your strategy embrace uncertainty?
- Test 7: Does your strategy balance commitment and flexibility?
- Test 8: Is your strategy contaminated by bias?
- Test 9: Is there conviction to act on your strategy?
- Test 10: Have you translated your strategy into an action plan?