Summary
Part V
- Quest-Augmented Strategy allows decision-making to be enriched with a range of viable alternative options. Without such options, strategic decision-making is limited to default thinking and premature hunches.
- The context in which strategic decisions are made is important. Ideally, strategic immersions are an ongoing ritual in which ample time is dedicated to thorough thinking (both in the learning leading up to the immersion, and in the space and time available at the immersion). Strategic decision-making is not served by tight timeframes and a packed agenda.
- Where possible, decision fatigue should be minimised. This means doing work beforehand to limit the focus and discussions to reassessing future contexts, incoherencies and viable alternative options. Any reference material needs to be streamlined.
- In addition to decision fatigue, we are all beset by myriad cognitive biases. This is inescapable — although with time, thorough thinking, diversity, good questioning and acuity for potentially flawed reasoning, we can limit or mitigate the effects of such biases.
- Once options are mapped out, strategy can be as simple as deciding what activities to stop, what to start, and what to ‘savvy-up' or improve. Experimentation means that many viable alternative options are less risky — we are not starting from scratch, and so to ‘start' to integrate these into the main enterprise strategy simply means scaling up experiments.
- Before leaving any strategic immersion, people ought to be clear on any actions and tasks to be completed within the following days and week. Milestones and projects' deliverables should also be mapped out for the next quarter, and key initiatives should be identified for the next year. While you are together, placing a tentative schedule on next year's immersion is worthwhile (if only to anchor that this is an ongoing, continuous and infinite process).
- Once a new strategic pathway or direction is determined, it needs to be communicated effectively. Change will likely involve stopping some activities, which can involve leaders having to have tough conversations. The resistance to change is amplified if people feel ‘ambushed' by it, or if little communication has occurred in the lead-up to and aftermath of strategic decision-making.
- Pioneering strategy is developed and disseminated much more effectively within networked organisations. As opposed to traditional, hierarchical organisation structures, a networked organisation consists of tightly woven interconnected hubs. When authority and autonomy is distributed, these hubs can become ‘antifragile'. Such hubs only get better when exposed to external stressors and change. If your enterprise has an effective internal communications platform, communication between hubs can be further enhanced — resulting in a much more responsive organisation.
- A more responsive organisation can ultimately mean that more people are empowered to lead quests — exploring new options that may enrich strategic decision-making and enable the enterprise to unlock new value and enduring relevance.
- Quest-Augmented Strategy needs to start somewhere. Even if you don't currently hold a leadership role with influence or authority, you can still take steps to build and demonstrate pioneering leadership. This starts with identifying meaningful progress.
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