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HOW TO DO A STRATEGIC PIVOT TO ADDRESS EXTERNAL DISRUPTORS
Author(s) -
Tsipursky Gleb
Publication year - 2021
Publication title -
leader to leader
Language(s) - English
Resource type - Journals
eISSN - 1531-5355
pISSN - 1087-8149
DOI - 10.1002/ltl.20584
Subject(s) - scope (computer science) , process (computing) , order (exchange) , business , process management , operations management , event (particle physics) , strategic leadership , public relations , strategic planning , operations research , management , marketing , computer science , political science , economics , engineering , finance , physics , quantum mechanics , programming language , operating system
The author writes of his experience advising organizations in the wake of COVID‐19. He explains that a “strategic pivot entails changing major or minor aspects of an organization’s goals. It allows leaders to closely examine pain points in order to guide teams through uncharted territory and back to productivity.” He outlines a process for a pivot, starting with: “Simply get someone with facilitation skills and no direct stake in the eventual strategies pursued by the company: it can be a peer executive, a member of the Board, a business coach, a mentor…” “The initial step,” he writes, “involves reevaluating assumptions about the organization’s business model (or operational model for a nonbusiness organization).” He explains six steps for a strategy session, in his words: (1) Scope and strategic goals. (2) Anticipate the future. (3) Potential internal problems. (4) Potential external problems. (5) Potential opportunities, internal and external. (6) Consider unknown unknowns (black swans). He further describes operations day, next steps, and follow‐up. Part of his conclusion includes the following: “Make sure to check if the next steps are being taken through weekly leadership team meetings. After a month, hold a half‐day event to evaluate the progress of the strategy pivot.”