219 - Innovative to Succeed
Accelerate innovation through rapid iteration. Ditch lengthy strategies and focus on small, actionable steps. Learn how to adapt quickly and drive results.
Innovative to Succeed
In today's fast-paced business environment, traditional planning cycles can hinder innovation. Instead of getting bogged down in lengthy strategic documents, consider a more agile approach.
Focus on identifying small, actionable steps to solve problems quickly. By embracing iteration, you can learn from failures, adapt to changes, and drive results faster. This approach fosters a culture of experimentation and empowers teams to be more responsive to market demands.
Remember, innovation isn't about creating a perfect plan; it's about taking action and learning along the way.
Highlights:
00:00 Introduction to Strategic Management Challenges
00:16 The Problem with Theoretical Approaches
00:20 Organizational Inertia and Approval Bottlenecks
00:30 Shifting Focus to Quick Problem Solving
00:41 The Importance of Fast Iteration and Adaptation
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Transcript:
As managers, we are sometimes in a situation where we need to write a long strategy and helping the company to move into a new direction and often we are going into the theoretical description of all of it. Before we take action, it takes sometimes half a year. I've heard, no, I have seen in organizations that there are a lot of people involved and not really something is done until there is an approval.
Let's turn this around and start with how do we solve the problem quickest and figure out the tiny step that we can do towards solving that problem. As faster we learn to iterate in this point in time, which is so crazy fast and transforming all the time as better it is because if we learn to adapt if we learn to do things quickly and test our assumptions as better it is for the organization and for the teams.