Over the past few months we have been engaged in a project and felt it would be great to share some insight into ‘pressure testing’ your business strategy.
After reading through this article, from the Harvard Business Review, we adopted the core principles described in which teams are created to develop alternate realities, allowing you to pressure test your strategy. We embedded this new way of thinking into our strategy road-maps and business performance dashboards.
To give you some insight into how we apply this methodology, we create mini-teams within your business, which are then used to identify alternate scenarios in your world. They are used for a number of things, most importantly to identify specific triggers that provide early warning of different scenarios unfolding. It is a type of strategy pressure test – similar (but still different) to a risk matrix…. By agreeing on the triggers most important to you and your organisation up front, dashboards are created with lead indicators.
This approach, to us at Cast Solutions, is innovative and agile. Rather than wait for these situations to pass by, the first key step is to define a pro-active action plan, and have identities embedded within the dashboard.