Their experience showed Felix how he could leverage the power of automation to enhance customer experience and drive innovation through, for instance, the creation of a customer app. By studying them, Felix learned what had succeeded and, just as importantly, failed. They had gone through a similar revolution to become providers of a digitally driven experience at almost every point of contact. He landed on the market leaders in the Australian banking industry - Commonwealth Bank, Westpac, National Australia Bank, and ANZ. Find your partner.įelix saw an opportunity to look beyond health insurance to companies that had been through a similar journey, i.e., using technology to create true customer value and a competitive edge. While the benefits are clear - increased efficiency, reduced waste, and increased consumer satisfaction - the strategic transition will not be an easy one for Felix’s company.
It would bring together virtual care, remote patient monitoring, patient navigation, and coaching with price transparency, offering an integrated experience for the consumer. New models are also required - the so-called “ digital front door” approach to member engagement. The problem is that this requires his company to adopt a wholly new way of looking at its role. While a change of mindset is a useful starting point, you need more in order to open your organization to genuine strategy invention.Ĭonsider this example: Felix is a senior executive in a health insurance company, and in the wake of the pandemic, he sees a once-in-a-generation opportunity to create better client experiences, greater efficiency, and improved health outcomes. The message is “it’s okay to say, we don’t know.” Humility rather than hubris becomes a valued trait. Instead, a new inquiring frame of mind takes over. Nor do they think if they don’t, they’ll lose face. No longer do managers think that they must have all the answers. This simple change has a profound effect on managers’ thinking and behavior. The first step in shaking this up is to change your thinking and language from “develop” to “discover.” Rather than think that the answers are “in here” (with the executive team) think that the answers are “out there” (with stakeholders). Rather than searching for fresh ideas they go back to industry conventions to develop a strategy out of what’s been done in the past. The conventional language around strategy, which is reinforced by every textbook, is that strategy needs to be “developed.” But this turns executive teams inwards. Avoiding Strategy-as-Usual Step 1: Change your mindset.
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Here I’ll show you how to shift your thinking from “strategy development” to “strategy discovery” and illustrating with cases of companies that escaped the strategy-as-usual loop to look outside their industries for ideas. I’ve watched this scenario play out with other clients on other occasions since - strategic planning turning into same-old, same-old.
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This was the first time I’d heard the term “business-as-usual” in this context. It always turns out to be business-as usual.” Then suddenly Frank said, “I don’t know why we have these strategy workshops every year. We had a flipchart, white-board and screen, and we were following the agreed agenda. I was facilitating a strategy session with 14 executives. This was over 20 years ago, but I remember it like it was yesterday.
So why does your shiny new strategic plan often look just like the last one?Ī guy named Frank summed it up for me perfectly. Strategy requires our most inspired creative management thinking, as we seek to find ways to respond to changing conditions and leverage our newest competitive advantages.
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