The Messaging Times

My friend Dmitry Linkov is in the midst of his Masters Diploma work and is attempting to illustrate the evolution of strategic management. How do you think business strategy devleopment and implementation have changed in recent years? Are old models of strategic planning still effective today? Here’s the feedback that I gave him:

The strategic planning process of the 1970s, in which carefully scripted business objectives were developed, analyzed, planned and implemented is undergoing a dramatic shift as a result of the current web 2.0 business model. While there is certainly still planning involved in any business venture, the implementation of concepts requires expediency due to the rush to market of competitive products and services.

The Internet makes traditional research and development timescales incompatible with this new web 2.0 business model. New developments occur quickly and implementation of concepts often occurs during initial planning stages. This early implementation of concepts requires that initial production efforts are scaleable, allowing flexibility in the event of shifts in market trends, which occur rapidly.The Internet has created a collaborative rather than competitive marketplace. Of course, competition still exists, but more people are working in partnership and sharing knowledge than ever before. This cooperative model of growth, involving peers, partners, affiliates and potential customers make new developments much more transparent today. Strategic shifts occur more frequently based on responses in the market to these new developments as they evolve. Regular adjustments to strategy are necessary to accommodate changes as they occur in the market. As Tom Peters mentioned recently in his blog; today, more than ever before ‘built to last’ is being replaced by ‘built to impact.’

If you have any thoughts on the evolution of strategic management or insights into how your strategic planning has been affected in recent years, please share them with Dmitry. Thanks!

tags: strategy strategic management