Using signals to drive your business
This really does fall into the realm of really simple things. It is called business signals analysis and it goes something like this….
I have to create the new business strategy for the next 3-5 years. I have two choices. I could set it the same way I have for the last 20 years – to gather my management team at some location outside the office, eat well, drink well, and at the last moment agree a list that sort of looks something like an action plan – or I could try something different.
The something different that I have been using successfully is called Business Signals Analysis and it works by doing something really simple – asking your staff for their ideas and opinions on where the business should go. This “revolutionary” approach has a number of benefits…for one it is extremely accurate, very fast and builds strategies that tackle the issues that really affect your business success.
It uses three priniciples to create a direct channel between you and your staff:
- anonymity – everything is said openly, honestly and “as it is”
- free-speech – participants use their language to say what they want to say
- power of the crowd – the aggregate answer from the crowd is likely to be more accurate than your best expert
The basic approach removes all of the filters that have been stopping you hearing what your business really needs and builds commitment to the new strategy by default. After all, it was your people that crafted the principles and targets of the strategy.
We are using this technique it build successful strategies for TietoEnator, and we are using it with our customers to drive closer alignment between the CIO and the business. I would be happy to tell you more, so if you are interested leave a comment and I will get back to you.