STRATEGY

Strategy has its origins in the military, the word STRATEGY is a combination of two words Army and Leading, which means to Lead the Army. Strategy is a process and a set of action plans to outline the vision statement, define the mission statement, and set organizational values ​​to establish strategic goals and corporate, business, and functional objectives to formulate corporate, business, and functional strategies. The organization implements the action plans, allocates resources, performs operational activities, and carries out the strategic decision-making process to achieve the strategies to fulfill the mission to reach the vision and strategic goals and achieve corporate, business, and functional objectives as the desired future.

STRATEGIC FORESIGHT

Strategic foresight is a systematic and process-based practice approach that applies a methodology, using strategic foresight models/frameworks, approaches, methods, techniques, and tools for each step in the strategic foresight process. The steps in the strategic foresight process are highly interactive with each other. The steps in the strategic foresight process are intended to support scenario/scenario planning to create probable, possible, preferable, alternative, and reasonable futures from 3 to 20 years ahead.

BENEFITS OF STRATEGY COMBINES WITH STRATEGIC FORESIGHT AND ISSUES MANAGEMENT

Strategy and foresight were once the same discipline. And they should be again. The immediacy of day-to-day operations can lead to a strategic process that is more about ticking boxes and filling templates, which often end up languishing, unopened, in an inbox. With modern updates and improvements to these combined disciplines, leaders can sharpen their vision for the future, empowering managers to make informed strategic choices and propelling teams towards superior performance. This domain is true strategic foresight: a disciplined and systematic approach to identify where to play, how to win in the future, and how to ensure organizational resiliency in the face of unforeseen disruption. (Amy Webb, Harvard Business Review, 2024)

In a world and conditions that are volatile, uncertain, complex, and ambiguous (VUCA) or turbulent, uncertain, novel, and ambiguous (TUNA) after the COVID-19 pandemic, organizations and companies need strategic foresight as a special leadership and management assistant to implement strategic leadership; guide their organizations and companies to survive and overcome risks and uncertainties. Strategic foresight outcomes help companies plan reasonable strategies, identify and manage strategic issues, and make correct strategic decisions. Strategic foresight and issues management help companies control strategy implementation and detect changes in the strategic management process, strategic foresight and issues management combined with appropriate change management models help companies manage change in the strategic management process, etc.

DRN’S CONSULTING APPROACH TO ORGANIZATIONAL STRATEGY (ORGANIZATIONAL/CORPORATE AND BUSINESS STRATEGY) COMBINED WITH STRATEGIC FORESIGHT AND ISSUES MANAGEMENT

DRN conducts strategic management survey and has a proposal for strategic management consulting combined with strategic foresight and issues management in the strategic planning and strategic management process: consult and train; organize seminars and brainstorming meetings for the leadership team, management team, supervisors, officers, and prospective staff on applying and practicing strategic foresight and issues management into the planning process to create scenarios of the company’s future in its industry/services; create a vision; plan corporate strategies, business strategies, and functional strategies; and test strategies against created future scenarios, after testing the strategies the company will select well-tested strategies to implement for 3 – 10 year strategies according to desired futures or possible futures from outcomes of scenario planning. Outcomes of strategic foresight also apply to the company’s creation of strategic options, knowing probable, possible, preferable, alternative, and reasonable futures from 3 to 10 years ahead; from these futures, DRN uses strategic foresight tools to bring futures into the present to formulate, develop, and plan strategies. Combine strategic foresight methods, tools, techniques, and strategy tools to know the outcomes of strategic foresight aims to help leaders create the right vision, define/redefine mission, establish strategic goals and business objectives; formulate, develop, and plan business strategies: Differentiation strategy, cost leadership strategy, best cost strategy, blue ocean strategy, innovation strategy, functional strategies, etc. Formulate, develop, and plan corporate strategies: Vertical integration and diversification strategies, strategic alliances, product and market diversification strategies, geographical diversification strategies, strategies for downsizing, strategies for corporate growth, corporate financial strategy, parent company strategy, merger and acquisition strategy, global strategy, international strategy, transnational strategy, multi-domestic strategy, global standardization strategy, quality strategy, etc. Review organizational structure, culture, values, climate, and trust to implement strategies and analyze resources allocation to implement strategies; measure and evaluate strategy solutions and strategies implementation, make strategic decisions, and manage strategic issues.