One of the biggest changes in business today is an ever increasing diversity of business environments, ranging from stable to highly unpredictable, fixed to highly malleable, favourable to harsh. To succeed leaders need to match their approach to strategy with their market landscape. To facilitate this the Boston Consulting Group created an incredibly useful Strategy Palette.
BCG uses a very simple analogy to explore how this would work.
The Classical Strategy
The outcome for the Classical Strategy? Be big.
The Adaptive Strategy
The outcome for the Adaptive Strategy? Be fast.
The Visionary Strategy
The outcome for the Visionary Strategy? Be First.
The Shaping Strategy
The outcome for the Shaping Strategy? Be the orchestrator.
The Renewal Strategy
The outcome of the Renewal Strategy? Be viable.
To succeed leaders must choose the right approach at the right time in each part of the business, selecting and refining the collage of approaches to stay tuned to changing environments. Which strategy do you currently use?