Business strategy has undergone many changes since its traditional structured planning model. Hanne Boffey discusses some of these changes and what they mean in the current market.
Strategy consulting firm Bain – recently voted the 2012 best consulting firm to work for by Consulting Magazine and beating Boston Consulting Group as a close number 2 – describes business strategy consulting as “tailor made thinking” and continues to say that the most important requirement for the job is to have outstanding analytical capabilities and solid interpersonal skills.
Traditionally, business strategy was about setting a long term vision for the company and then defining the winning strategy for how to get there: a structured planning process with a beginning and an end. However, this doesn’t work in a world that is best described by rapid and constant change.
How has business strategy changed?
Strategy has changed to a concept of strategic thinking that requires a balancing act between holding on to your vision of winning whilst adjusting to the constant changing market conditions. It requires a different way of thinking, new skills and a different way of working within an organisation.
It’s now about inclusive leadership with the ability to effectively leverage diversity and the diversity of thought that comes with this. Today’s strategy leaders lead with questions, changing the conversation, inviting challenge and demonstrating solid interpersonal skills.
The largest strategy consulting firms saw solid growth last year. This is down to several reasons but also because companies struggle with how to manage a constantly changing world. This again is probably also why we see an increase in request for candidates for senior in-house strategy roles who have spent time with a reputable strategy consulting firm.
What does this mean for Grovelands?
The strategy team in Grovelands works with clients ranging from global management consultancies to blue chip multinationals across several industry sectors.
Contact us for a discussion if you are a strategy consultancy looking to expand your strategy practice or looking for your next strategy director or other excellent candidates for your in-house strategy team. Or, of course, if you are an excellent strategy consultant looking for your next career move.