THINK THE UNTHINKABLE — THEN ACT!

The 2008 financial crisis has not abated but rather morphed into a new set of uncertainties. Clients are demanding to know where Europe's sovereign debt crisis may lead and how to cope with unprecedented volatility in markets. European leadership is severely challenged by a level of debt that is insupportable in Greece, Italy and Spain. The unwillingness on the part of their populations to take up austerity measures and their need to grow out of debt appears to present a conundrum they cannot solve. It is not apparent whether Europe can get out of its own way, and if it does not, the reverberations could profoundly affect the rest of the world for some time to come.

These are the conditions that demand scenario thinking and a willingness to confront the dimensions of uncertainty that matter most. Best Partners believes you must apply four core principles in developing strategy, whether corporate, organizational or personal:

• Clarify the intention.

  What are we really trying to do? Are we all clear about it?

  Clarity within the organization is required for efficient operation. Clarity breeds purposefulness, relevance and connection. People long to know what to do, and why they are doing it, but also to help them understand what not to do. Scenario-building and other tools can help leaders clarify vision, strategies, goals and objectives — for themselves as well as for the broader organization.

• Define the sacred.

  What is most important to us? We all hold to this.

  What are the values and principles that define the organization’s core beliefs, from which it will not depart? Research into successful companies has determined that visionary companies, clear about their core values, will be the most profitable over time. What are the beliefs and commitments that truly underlie the organization’s behavior? Is the company expressing its own “sacred” at all levels?

• Understand the commitment.

  What is required to deliver on these ideas?

  Clarity and core values will be fruitless without the necessary resources committed to a given objective. Leadership must also acknowledge resource limits and focus efforts so that the pursuit of too many objectives is not an obstacle to achieving the most important few.

• Act to be!

  How shall I behave in support of these commitments?

  Because our behavior will influence the dynamics around us, we help define our future. We must focus on own day-to-day behaviors, knowing that they influence colleagues, our team, the organization. As you behave, so will you become. In order to lead change, people must demonstrate their capacity to change their own behaviors.

Applying these principles may involve scenario thinking as a way to engage yourself and your organization in deeper discussion of what could happen and what needs to be done in any event. Scenarios help you structure the most important uncertainties and help identify options to consider and actions you should take. The scenario engagement not only clarifies intention, but promotes a common framework for understanding and internal dialogue. This itself promotes teamwork, working efficiency and builds a more competitive business culture.

Eric Best and Best Partners, with nearly 20 years of experience in scenario-to-strategy development for clients across a wide range of industries, offers a unique engagement style that combines a journalist's interviews with executive coaching and scenario engagements, often in a workshop format. This approach has been credited with delivering enormous monetary value ($1.2 billion to an investment bank) and transformative organizational initiatives (altering the approach to global IT). More recently for a major pension institute it helped clarify financial options in a volatile market, and helped a major European holding company identify the most important options to consider in light of Europe's current crisis. Best Partners has helped individuals, boards of directors and operating committees quickly clarify strategic objectives and move to concerted action.

Contact us to explore how we can help you think through your strategic challenges to develop a plan of action for whatever may come. Eric Best can be available for direct executive coaching on macro strategic matters or organizational challenges. Email or call 516-712-7817 for an appointment to discuss the engagement approach that will work best for you or your organization.