What were you hoping that 2020 would be about? What did your strategic plan or business plan say that you wanted to achieve this year? What underlying assumptions did you have in the strategic plan that no longer hold true?
I saw a statistic recently that 82% of the time a strategy fails can be attributed to misleading assumptions. Think of Kodak and how they were left behind in the transition from film to digital photography.
Many businesses have thrown out whatever strategic plan they had for 2020 and have been reacting day to day and month to month as the COVID-19 health crisis and related economic crisis have unfolded. Whatever you assumed in your strategic plan for 2020 has quite possibly already proven to be false. Continue reading…
In an interview the productivity consultant David Allen said that strategic thinking does not require large amounts of time (Clark, 2015). More importantly, it’s space that allows innovative ideas and decisions that will guide the future direction of your not for profit.
Being strategic is one of the most important behaviours that guarantee an organisation’s long term success and almost every leader would like to have more time for strategic planning (Clark 2018). We are all too busy, dealing with the daily fires, and now that many of us are working from home, we feel like we’re working all the time.
Keeping track of our time and setting a regular time aside for strategic thinking and planning can help to embed strategic thinking into our schedule (Clark, 2018). Getting away from our routine and ‘to do lists’ can create some mental space. Encouraging our managers and team leaders to set some time aside for strategy and offering opportunities to share their thoughts and ideas can also foster strategic thinking throughout our organisation. Continue reading…
Question: Why did the thief rob the bank?
Answer: Because that’s where the money is.
In this situation, the thief understood enough about his market to know where to find the money!
It’s important for an organisation to have a solid understanding of where the money is in their own market segment before they can maximise their organisation’s potential.
Data on the market can be used to answer a number of questions that lead to better decision making. What is the size of your market? Is it growing or contracting? Why? How is the market evolving or changing? What disruptive forces are impacting the market? How are competitors’ actions changing the market? What are the bounds and scope of the market that you are operating in? Should we look to another market segment in order to continue growing the business? How much should we spend on acquiring the knowledge necessary to answer these questions? Continue reading…
We live in unprecedented times with the business models of decades’ old organisations quite literally changing overnight.
The radical changes we have seen over the past few weeks have demonstrated the speed at which market dynamics can change, and the need for businesses to respond quickly.
Boards and management teams are needing to respond with urgency to scenario plan and make decisions with imperfect information as the situation unfolds.
The markets that we operate in and the customers we serve are always changing. Whilst the speed of change is not necessarily what we have seen recently, now is a time not just to focus on the immediate crisis at hand, but to think about how to structure management and board meetings so that market changes form part of the regular and ongoing conversation. Continue reading…
A range of factors, not least the realities of operating in the NDIS market, are prompting many of our clients to look at how they can make better use of digital systems to reduce their overhead costs, create efficiencies and improve data integrity. These drivers are often counter-balanced with concerns about losing connection with clients (because digital is less personal) and the anticipated reactions of staff. Sometimes this is because experience tells organisations that some of their employees are active resistors of digital. There’s also the sheer workload – any digital introduction or change requires a change management approach, staff training and active line management of employees to ensure that they are using the technology as intended. If resources are released from process work, there’s also an opportunity to redeploy employees to more valuable activities.
There is no shortage of cautionary tales about failed digital implementations, so not for profits need to make sure that you are putting your limited assets and capacity for digital investments in the right place. Continue reading…
If your business depends on you, you don’t own a business – you have a job. And it’s the worst job in the world because you’re working for a lunatic!
– Michael E. Gerber
Organisations can live forever, but people cannot. In the UK, the oldest not for profit organisation is said to be King’s School, Cantebury which was established more than 1400 years ago in 597.
There are many factors that contribute to the longevity of an organisation and one of them is ensuring that key person risk is mitigated.