Strategy in the New Normal

New Normal One thing we are hearing a lot of people asking, what is the right focus as we begin to see signs of recovery?

I was glad to see a whole issue of Harvard Business Review this month focusing on strategy in a weak recovery. Here are five things you need to think rethink about as we come out of the Great Recession of 2007 – 2008:

  1. Strategy & Competition – Has your competitive landscape changed? Watch for emerging changes in your market and prepare to adapt as needed.
  2. Markets & products – invest in under-served markets or those with the most future opportunities.
  3. Operations & innovation – have you invested in innovation? is your supply-chain lean and simple? Have you focused on operational excellence?
  4. Organization & people – Have you identified skill gaps? Do you need to revisit organizational structure in light of rightsizing or other changes? Are you investing in people who are now “doing more with less”?
  5. Identity & reputation – Are you emphasizing good corporate citizenship? Is your brand strong (internally & externally)?

For more read the full article from HBR – Finding Your Strategy in the New Landscape by Pankaj Ghemawat in this month's Harvard Business Review.

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