An approach to leading teams is “leading by asking questions.” Think of it as the leader owning the questions and the team owning the answers . The leader is not expected to have all the answers but to ensure the team gets to a solution.
It is the leader’s responsibility to provide the necessary guidelines, so the team can make adaptable and fast decisions.
The first step in making your strategy adaptable to uncertainty is to identify current assumptions, the kinds of uncertainties to monitor and establish a feedback mechanism.
In everyday conversation we tend to think of “risk” as something negative to be avoided, and “assumption” as something we believe or find acceptable. Such generalities can get confusing, so Strategy 2 Market developed a cheat sheet for risk terminology.
How can established organizations be more nimble and adaptable? This is where entrepreneurial techniques, like experimentation and Exploratory PD, can be leveraged.
One of the defining characteristics of product development is making decisions and judgements, in the face of uncertainty. Exploratory Product Development (ExPD) is based on the premise of reducing risks and uncertainty.
A recent Harvard Business Review issue (May-June 2018), was devoted to the importance of creating a flexible organization. This is supported by the 2013 Comparative Performance Assessment Study conducted by the PDMA Research Foundation. The study states, “The use of formal, structured processes may have reached its potential and companies are now testing the use […]