From the course: Digital Transformation
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Strategic planning at the speed of digital
From the course: Digital Transformation
Strategic planning at the speed of digital
- You've probably gotten the sense that the pace of change in the new digital world is faster than ever. That's true, and it will only get faster. How does planning work under those circumstances? Does a three or ten year plan that some companies prefer still apply? Does it mean the plans should be investigated more frequently? The answer is both. Let me explain. It's true that shorter strategic planning cycles are necessary. For instance, the plan you set a year ago might be partially moot if, for example, the technology or processes that are being implemented as a result of the strategy are rendered obsolete by new technologies or processes. There are four steps that I would advise undertaking. Investigate the art of the possible regarding innovative new technologies. Work with customers to develop new plans on how digital technology will enhance customer experience. Identify outgrowths of the current strategic plan. And finally, refresh your plans frequently. Let's take those in…
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