Traditional strategic planning approaches often fail to deliver the results that firms require to jump start growth or pull out of a sustained decline. Legacy approaches emphasize a periodic focus on strategy—often an annual refresh against a long-range plan. This “strategy as an event” approach is increasingly obsolete in a world that changes overnight, with markets being born, maturing and dying at hyper-speed. Instead, what is needed is a more dynamic means for professionals to experiment, innovate and to assess results and refine activities in near-real time.
Organizations that learn to work in “Strategy Bursts” are able to learn, adapt and refine their strategic activities faster than more plodding competitors, but this new style requires learning and internalizing a new approach to strategy management and execution. For many leaders and executives, succeeding with this new model requires letting go of old strategy habits and biases.
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