A reminder from McKinsey makes a strong case that uncertainty calls for flexible pursuit of diverse initiatives – but strategic management of a portfolio of initiatives works is always needed. Any organizations takes at least some initiatives, over and above the continuing management of business-as-usual – major investments, product launches, entering new markets, setting up joint ventures and so on. The challenge is working out which to do in what order over what timescale for the best total impact on the trajectory of future performance, and then how to steer those changing priorities.
Unfortunately, the article offers only a crude 2×2 matrix for mapping such a portfolio [except being McK it has to be a 3×3!]. Yet we can do way better than this and undertake genuinely strategic management of this issue – see a very brief note in my post on Corporate Portfolio Management. I will happily explain more if there’s interest.