Rebecca Homkes, a business strategy expert, shares her framework for leading through uncertainty - survive, reset, thrive. She discusses how to navigate uncertainty, survive shocks, reset strategies, and thrive long-term. Topics include the impact of AI on strategy, implementing the framework in personal life, and the balance between creative and competitive aspects of strategy.
Adopt the survive, reset, thrive framework for navigating uncertainty.
Bridge the gap between strategic vision and operational execution to drive breakthrough growth.
Deep dives
The Framework of Survive, Reset, and Thrive in Uncertain Times
Survive, Reset, and Thrive is a comprehensive but not complex playbook designed to guide leaders through stabilizing after market shocks, resetting, and thriving. It emphasizes moving away from linear thinking to loop thinking, where growth is a continuous journey and change is integrated into strategy, not just an external risk. The framework addresses the high uncertainty faced in today's interconnected world, advocating for a proactive approach to strategy in volatile times.
Survive: Proactive Strategies for Stability
The Survive stage focuses on proactive stability measures, urging companies to maintain a lean yet sustainable operational model to weather external and internal shocks. Key actions during this phase involve mastering the four Cs: cash flow, cost management, customer relationships, and communication. Additionally, power moves like repurposing assets and accelerating learning velocity are highlighted to navigate and emerge stronger from disruptive events.
Reset: Reinventing Strategy Amid Uncertainty
The Reset phase challenges traditional strategy assumptions by emphasizing the need to recalibrate beliefs, not just strategies. It advocates for a shift from reacting to change to proactively shaping strategies based on newly defined beliefs. By approaching reset as an opportunity for innovation and change rather than a risk to manage, companies can realign their strategic direction with evolving market dynamics.
Thrive: Transitioning to Sustainable Growth
Transitioning from Reset to Thrive necessitates bridging the gap between strategic vision and operational execution. The black box of execution highlights the critical levers of shared context, hardware, software, and leadership roles that must be realigned to support new growth strategies effectively. Thriving in uncertain environments requires a holistic approach that integrates human creativity with data-driven insights to drive breakthrough growth.
Homkes teaches business strategy at the London Business School, is on the faculty of Duke Corporate Education, and consults major companies on strategy. She has developed a framework for leading through uncertainty based on three principles: setting up the firm for continuity through shocks (survive), making strategic choices for growth as the situation changes (reset), and ensuring implementation of the new business model (thrive).
Together with Martin Reeves, Chairman of the BCG Henderson Institute, Homkes discusses how to thrive under uncertainty and how her framework applies in the context of the AI revolution.
Key topics discussed:
02:11 | How uncertainty affects strategy
03:40 | The survive, reset, thrive framework
05:20 | How to survive a shock
09:20 | How to reset for a new environment
14:42 | How to execute so you can thrive in the long term
19:12 | The creative vs. competitive aspects of strategy
24:11 | How algorithms and AI will affect strategy and the strategy process
27:49 | Applying this framework in your personal life
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