An investment in technology
70 percent of executives from Austria, Germany, and Switzerland said the pandemic is likely to accelerate the pace of their digital transformation. -McKinsey and Company
When faced with a period of uncertainty investing in technology and software to help strategise, plan, act, review and communicate could largely improve internal processes, create agility and build corporate resilience. Building corporate resilience requires more than just grafting new ideas or platforms onto your current strategy. It requires a fundamentally different approach that embraces complexity, uncertainty, interdependence, systems thinking, and a multi-timescale perspective. In short simply buying and implementing software won’t give you the type of strategic and planning advantage that you might be looking for.
Almost every leader wants to make more time for strategic thinking. In one survey of 10,000 senior leaders, 97% of them said that being strategic was the leadership behavior most important to their organization’s success.- Harvard Business Review
This is precisely why in an environment where we are restrategising and seeking ways to build and maintain organisational resilience we must push to take the bold digital actions we’ve hesitated to pursue in the past. Bold tightly integrated digital strategies are the most effective approach to digital transformations.-McKinsey and Company.
Strategic resilience is defined by an organisation’s capacity to cultivate characteristics that enable an organisation to tolerate, overcome and be strengthened by adverse events and experiences. In many cases this is driven by a strategic plan which facilitates people performing tasks that achieve a common purpose.
In a rapidly changing world where we find ourselves short on time and resources, technology and data play a crucial role in building a strategy that is agile, resilient, and dynamic. Technology must be integrated on a molecular level as a type of DNA that should run through the veins of your organisation forming the lifeline of your Resilience Strategy navigating your path of recovery and building momentum for the future.
In the past when faced with this level of economic turmoil organisations would typically prepare for a period of muted growth, cut costs and scale back investments but we find ourselves in a somewhat different environment where you can no longer treat Technology as a cost but rather as an investment that will unlock value and provide structural transparency and real time agility.
Strategic, planning and KPI software can help you find true organisational resilience by forming the building blocks for a strategy that can provide competitive and collaborative advantage, fortify your organisation and contribute to future stability
Skefto SPARC will allow your organisation to build a strategic plan in which you can collaborate and Strategies by setting themes, goals, objectives and metrics. Undertake high level resource planning and assign individual and team responsibilities with strategy, planning and KPI software.
Plan by defining actions, initiatives and key performance indicators required for plan execution and monitoring. Assign granular individual and team responsibilities, set implementation timeframes and schedule review cycles.
Take Action by swiftly transitioning from planning through to execution. Drive successful plan implementation with real time collaboration, information sharing, event based alerts, effective resource management, action management and KPI tracking.
Review and provide regular updates to stakeholders by periodically updating and reviewing the performance of plans, objectives, actions and KPIs. Visualise performance and adjust on the fly based on a real-time result data and KPI dashboard.
Communicate, analyse and broadcast plan and performance data to stakeholders through reports, visualisations and dashboards.
By applying the SPARC methodology you can not only give structure to what could feel like a huge and daunting task but also provide a level of stability and direction to your workforce that can really grow into a positive momentum.
When repointing your strategy it is important to collaborate, communicate and share within your organisation. You cannot rebuild alone, engage your team, set timelines and track your progress to ensure that your new strategy has the best possible chance for success.
Find out more about how you can give your strategy a Sparc with skefto strategic planning software today.