Many successful companies shape their high-level strategies by relying on simple rules, not complicated frameworks. Even established organizations can introduce a continuous stream of new products and services by simplifying their processes and encouraging an atmosphere of "structured chaos." Explore how simple rules can outperform extensive analysis and information. Practice the ideas in your own situation.
Learn to consider different time horizons when developing your innovative product or service. While short term innovation may require creating "genetic" crossovers between different growth strategies, long term innovation efforts will rely more heavily on "probing." Examine case studies to evaluate why some strategies drive innovation and others fail.
Learn How To
Use simple rules as an alternative to complex processes
Learn the definition of simple rules and key strategic processes. Learn to identify strategic bottlenecks and how different types of simple rules can help resolve some of these bottlenecks. Understand the importance of being in touch with real-time information inside and outside the organization.
Recognize rhythmic elements as drivers for strategy creation
Learn the concept of time pacing, one of the most neglected and yet impactful facets of strategy development. Learn how time pacing differs from the usual event pacing and why simply moving faster is often problematic. Learn how identifying the transitions between activities – from one new product to the next, from one acquisition to the next – are critical (just as they are in relay races in track).
Develop strategies for multiple time frames
Learn about the challenges of managing short-term growth strategy in the awkward time between the demands of today and the promise of the future.
Translate current strategy into growth
Learn the principles of probing into the future using disciplined experimentation. You will learn the difference between an experiment and a business, and why it is critical to develop a company identity, not a vision of the industry.
Kathleen Eisenhardt, Professor of Management Science and Engineering, Stanford School of Engineering, Stanford University