Adopt Open Strategy to Fuel Innovation

Adopt Open Strategy to Fuel Innovation and enhance innovation within your organization. Open Strategy emphasizes the transformative potential of open strategy for fostering innovation. By including a wide range of stakeholders, organizations can access diverse knowledge, enhance engagement, and uncover innovative ideas. Here are the key points summarized:

Definition of Open Strategy:

Open strategy involves the inclusion of a wide range of stakeholders, both internal and external, in the strategic planning process. This contrasts with traditional, closed approaches where strategy is typically formulated by a select group of top executives.

Benefits of Open Strategy:

There are several benefits of adopting an open strategy. It can lead to more innovative ideas, as it harnesses the collective intelligence of a broader group. This diversity of perspectives can uncover opportunities and solutions that might be missed by a smaller, more homogenous group.

Enhanced Engagement and Buy-in:

Including a wide array of stakeholders in the strategy process increases their engagement and buy-in. When employees and external partners feel their input is valued, they are more likely to be committed to the implementation of the strategy.

Access to Diverse Knowledge:

Open strategy allows organizations to tap into diverse sources of knowledge and expertise. By involving people from different departments, levels, and even outside the organization, companies can leverage specialized knowledge and insights that can drive innovation.

Practical Steps for Implementing Open Strategy:

Practical advice for organizations looking to implement open strategy includes clearly defining the goals of the strategy process, identifying relevant stakeholders to involve, and creating mechanisms for their input. These mechanisms can range from workshops and brainstorming sessions to online platforms for idea submission and discussion.

Balancing Openness and Control:

While openness is valuable, it’s also important to balance it with control to ensure the strategy remains coherent and focused. This means setting clear boundaries and criteria for decision-making and ensuring that the final strategic decisions align with the organization’s overall goals and capabilities.

Examples of Open Strategy in Action:

Examples of companies that have successfully adopted open strategy illustrate how involving a broader group of stakeholders can lead to breakthrough innovations and more effective strategic initiatives.

Challenges and Considerations:

Implementing an open strategy is not without challenges. Organizations may face resistance from those accustomed to traditional strategic planning methods. There can also be difficulties in managing and integrating diverse inputs. Effective facilitation and leadership are crucial to navigate these challenges and harness the benefits of openness.

Technology’s Role:

Technology plays a significant role in facilitating open strategy. Digital platforms and tools can enable broader participation, idea sharing, and collaboration across different locations and time zones. These technologies can make the process more efficient and inclusive.

Cultural Shift:

Adopting an open strategy often requires a cultural shift within the organization. Leaders must foster a culture of openness, trust, and collaboration where diverse viewpoints are welcomed and valued. This cultural foundation is essential for the successful implementation of open strategy.

In conclusion, successfully implementing open strategy requires balancing openness with control, leveraging technology, and fostering a supportive organizational culture. This approach can lead to more effective and innovative strategic outcomes, positioning organizations for long-term success in a rapidly changing environment.

Services

Arcus offers clients a unique combination of fact-based industry knowledge and superior functional expertise. Our consultants have an average of over 22 years experience, twice the industry average. Find out more about our growth, change management and  operations services.

At Arcus we believe that a strategy is only as good as the results it delivers. Strategic outcomes are most predictable and effective when companies develop a portfolio of initiatives that are aligned with core competencies and aligned activities enable the company to offer a superior value proposition.

Please contact Arcus for case studies and to discuss how we can help you.

Service coverage

The variety, breadth, and depth of the projects where Arcus can be a resource are made unique by each client’s specific needs. By providing a very small sample of projects we’ve completed, we can help you understand how and when to use our services. Visit the links below to find out more about a specific problem or opportunity you would like to address.

Below is a sample of the range of services that Arcus has provided to clients.

  • A survey of 2,350 consumers and 1,320 business leaders for feedback on sustainability trends
  • Architecting a multi-year change strategy for a Fortune 500 company
  • Mentoring a CEO on organizational change
  • Excellence transformation of a leading B2B services company
  • Creating a new sales deployment model for a healthcare company
  • Developing a position evaluation and compensation model for a professional medical association   
  • Improving services to customer segments by deepening their understanding of customer attitudes

“Arcus manages to consistently deliver tangible results on market research and strategy projects. They combine deep business expertise, powerful research capabilities, and innovative thinking to deliver substantial value.”

– Vice President, Nikon

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Media Coverage

Arcus has been quoted extensively in media on a range of topics and can offer research studies, insights and ideas. Here are some examples from the Globe and Mail, CTV, Global TV and others.