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Strategy Planning and novelty are different


Strategy novelty need a creative process and people to listen to customers in new ways, design and new types of products, and visualize strategies for markets that do not exist at present .The raw materials for strategy novelty are insights, which are new perceptions and new understandings of value. Insights can come from listening to or observing customers that is their words, actions, emotions, and wishes. Insights can come from listening to industry experts or thought leaders as they explain their understanding of the present and future dynamics of a marketplace. Insights may also come from listening to people who are not well-established in our industry, company, or culture, as they are in the best position of offering a fresh perspective. The quality of the insights necessary for strategy innovation cannot come from statistics.

 

The strategy novelty process is not as conventional and linear as the strategic planning process in most companies. Revising plans and updating numbers have an inevitability that allows us to schedule strategic planning sessions months in advance. Strategy novelty is a grassroots, discovery process that is dependent on the quality of the insights gained along the way. Sometimes it happens quickly; sometimes it takes much iteration before a breakthrough is achieved. Customer interviews might not disclose new expressions of value in the first month of trying. An examination of future market dynamics may suggest several very different future scenarios that will take a while to sort out and evaluate. There will be starts and stops, dead ends, and a need to revisit previous work done. The iterative nature of the process means that the imposition of deadlines may affect the quality of the output. That is,a team may be forced to stop exploring because of a deadline, rather than because they have already discovered all the great insights they need. Flexible timing is more accommodating to the heuristic nature of the strategy innovation process.

 

Another difference between traditional strategic planning process and a strategy novelty process is the direction toward time. There is a natural inclination in the strategic planning process to start the planning with today and then make projections, based on historical trends and today’s statistics, out to tomorrow. It is starting with the known and working toward the unknown. This near-term to long-term work flow reinforces the evolutionary nature of the strategic planning process.

 

On the other hand, the strategy novelty process works best in the other direction. It starts with tomorrow and then plans backwards to today. To be successful, the search for new business opportunities cannot be forced by today’s corporate conditions or today’s market conditions. The search for opportunities cannot get bogged down in arguments over resource distribution. It must be able to transcend today’s conditions and imagine what is possible in the future. In this way they are important within themselves.


About the Author

parveen kumar

Strategy novelty need a creative process and people to listen to customers in new ways, design and new types of products, and visualize strategies for markets that do not exist at present.