Dynamic Business Strategy
Dynamic Strategy is a methodology developed by TACK as a unique solution for strategic planning processes in organizations that operate in markets characterized by a rapid rate of change.
Executing a dynamic strategy increases the flexibility in planning and lowers the ambiguity involved in waiting for the results of long-term planning that is typical of traditional strategic processes.
The first step is meant to create as wide and accurate of a picture as possible of the business environment and the potential changes foreseen. We accomplish this by: interviewing the organization's customers, employees and direct competitors, identifying key industry trends and changes, identifying substitute products and other relevant industries that may impact the organization and the competitive landscape, and examining regulatory changes (local and international). The integration and analysis of this information helps identify the key trends and serves as the basis of the subsequent development of the strategic alternatives in the short term.
Equipped with the information gathered in the first step, the organization can challenge the underlying assumptions of the existing strategy and present several potential alternatives for its new business strategy. At the same time, a brainstorming process is undergone in order to create a preliminary list of new products, services or business models that support the new strategy. The brainstorming and problem-solving in this stage can follow a Top-Down approach (from the strategic concept to business development) or a Bottom-Up approach (from identifying innovation to the strategic concept).
When the strategy has been defined using the Strategic Corridor, the organization beings implementing the various strategic initiatives in the format of a controlled trial (pilot). These trials serve as a simulation of the economical and organizational impacts of the strategic change. This stage is meant to minimize the innate uncertainty that exists in every significant change and to enable flexible and well-informed management of the growth challenges facing the organization. During the pilot phase, changes are tested on small customer segments, allowing the organization to thoroughly examine the expected business impact and decide whether to expand the pilot to all its customers or move on to a different alternative.
After choosing the strategic alternatives and analyzing the impact of the initial trials that were carried out, the entire strategic change is implemented in the day-to-day business operations of the organization. At this stage, performance measurement and control mechanisms are developed to enable continuous tracking and review of results. The feedback received from employees, customers and the market serve as the basis for a new cycle of the four stages of the dynamic strategy.