Strategy must look to the future for innovation

Winning, innovative organisations have a clear strategy that learns from history, assesses the present and has eyes on the future.

More than ever before, investors value a clear, forward thinking strategy that outlines a robust path to competitive advantage.

Investment in strategic thinking about the future is vital. McKinsey research shows an annual planning process is frequently the primary trigger for strategic decision making. So if the strategic process is formulaic and or myopic, then innovation is less likely. Organisations that just keep planning the same way and keep doing what they have done, become moribund. Agile entities that think about the future and use their capabilities to adapt and execute, innovate successfully. Innovation is a catalyst for growth and creates a competitive advantage.