We find that all too often, conventional strategic thinking is open loop….company strategies are defined without any consideration of the ensuing actions of other players. This is bad enough in most sectors but is fatal in the emerging networked world, where actions and reactions are far more interlinked.
We have worked with clients in many industries across the globe to define new business strategies, including:
- Mobile advertising strategy for new market entrant
- New market opportunities for traditional media system producer
- Business defence strategy for telecommunication market incumbent
- Strategy for financial services provider to take account of new Social Media opportunities
In many areas that are being disrupted by new technologies, impact is only certain when it is too late, so it is often necessary to take early steps pro-actively, as options for future actions. Our strategic approach blends our experience with a broad framework to arrive at a solution:
- To use high level system dynamic approaches to understand the dynamic environment the business is operating in
- Perform sufficient analysis, but weighted on the key areas, to make the most likely outcomes clear – but not to fall into the trap of over-analysing fluid and uncertain situations
- Use game theory and sceanrio planning principles to model possible outcomes
- Combine analysis, research of industry experience, and expert input to define realistic, implementable solutions
- Work closely with the client to design achievable plans for execution
In some cases – typically the “what will people do with this new service thats never existed before” type of question – pure analysis alone just cannot solve the problem. Market research is all very well, but usually not very useful, as it is “driving forward via the rear view mirror”.
The best way forward in these cases is to develop low cost ways to test the propositions by building reference systems, so people can experience the service. We we have done for a number of clients who have launched new services such as online advertising and social media search.
We believe this can give far more learning than paper exercises, and at comparable costs.