target audience: TECH BUYER Publication date: Dec 2023 - Document type: IDC Perspective - Doc Document number: # US49905923
Strategy in Its Many Forms
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Abstract
This IDC Perspective discusses the evolution of strategic consulting, emphasizing the shift from episodic strategy sessions to continuous transformation in response to market changes. It highlights the importance of considering multiple future scenarios and adapting strategies accordingly. The role of digital strategy in achieving business objectives is also explored. The document underscores the need for regular strategy reviews, cross-functional alignment, and employee engagement in successful strategy execution.
"Strategy is inherently difficult because it deals with the future. You need to guestimate what will happen and hope that you get it right. More data and more scenarios create a better perspective but at some point, you need to choose a path that your organization will follow. Whether you use a rudder or a compass your strategy needs to be viewed often and tested against new circumstances unlike when strategy binders were stuck on a shelf and rarely viewed like in years past." — Bill Latshaw, research director, Worldwide Business Consulting Services, IDC