Elevate: The Three Disciplines of Advanced Strategic Thinking

CONCLUSION

To master a discipline is quite rare, so too, the ability to rise through the air.

When to Change Strategy

Just as a helicopter pilot monitors his planned course during flight for conditions that would warrant adjustment, we too must monitor our strategic direction to determine when a change in strategy is appropriate. A study of 1,053 companies showed that strategic blunders are at the root of poor performance 81 percent of the time, making them the number-one cause of lost shareholder value.¹ The researchers concluded, “About half the time, the loss of value occurred gradually—over many months or even years if the company took too long to grasp a changed strategic environment or lacked the agility to react.”² While an action resulting in an error may be highly visible, sometimes it’s inaction that is our ultimate undoing. The ability to modify strategy at the right time can literally save or destroy a business. Here is a checklist of five moments when it is critical to evaluate your strategy.

1.  Goals are achieved or changed. Goals are what you are trying to achieve, and strategy is how you’re going to get there. It makes sense then, if the destination changes, so too should the path to get there. As you accomplish goals and establish new ones, changes in resource allocation are often required to keep moving forward. In some cases, goals are modified during the course of the year to reflect changes in the market, competitive landscape, or customer profile. It’s ...