Read Stefan Stern’s latest column in the FT, Time to get your strategy right. It has been a pretty grizzly year, and it is not getting easier fast, but we will come out of this recession: and professional service firms, like any other business, need to be ready. So, as Stern opens, “We need to talk about strategy” – but, and this is where it starts,
. . . business leaders ought to recognise, as they catch their breath after months of turbulence, that the strategy they were pursuing until recently is unlikely to be right for today.
It’s not just that markets have changed. Your organisation has changed. You may have all been through a near-death experience. Even if you avoided calamity, it is unlikely that colleagues are the same carefree people you remember from a year or two ago. Most businesses have been making serious cutbacks. Co-workers may be doing their best to look calm and positive. But they can see unemployment rising and know that sustained recovery is a long way off.