In this episode, we chat with Julia Hautz - the Professor of Strategic Management at the University of Innsbruck in Austria.
Julia is the co-author of 'Open Strategy', a book that is taking the global strategy community by storm.
Open Strategy, as Julia explains, means actively involving people from outside the C-suite in strategy deliberations.
People, both internal and external to the organisation.
This can include customers, partners, suppliers, and even competitors.
As well as those internal to the organisation, like front-line employees and various levels of staff from outside the C-Suite that haven't typically been involved in strategy in the past.
We're seeing first-hand with our own clients that this type of approach to strategy is becoming essential to stay relevant and connected.
These were some of our highlights from the conversation:
- How the Open Strategy approach is helping leaders overcome their biases, and instead, co-designing strategy with customers, partners and staff who are then more committed to implementing the changes.
- How you can start to bring people outside your organisation directly into strategy development.
- How to get valuable insights from other seemingly unrelated industries.
- Real-world examples of organisations using Open Strategy including the US Navy, CIA, and various other mid to small sized organisations from across Europe & the US.
- How Serendipity relates to strategy :) Yep, you read that correctly.
CHAPTERS:
00:00 Introduction
3:00 Open Strategy at its core
5:31 Julia's background self-introduction
8:49 Bridging academia and industry
13:08 Opening up could also mean looking internally
14:15 Going beyond organisational boundaries
16:43 Societal shifts point to Open Strategy
22:04 Client Examples of the US Navy, NASA & the CIA using Open Strategy principles
28:06 The benefits of Open Strategy
29:43 Example of Barclays Bank in the UK
32:15 How to introduce Open Strategy in your own business
35:58 Looking at Open Strategy in various sized and types of organisations
40:05 How on earth does Serendipity relate to strategy?
41:16 Book recommendation: Gary Kleine - Seeing What Others Don't See
41:33 Building connections with other unrelated fields
44:00 The mindset shift needed for Open Strategy
45:53 The opposite of Open Strategy
We hope you enjoy the conversation and trust you'll get some really meaningful insights of how you can start to build Open Strategy into your own approach.
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