Innovation and Digital Transformation Strategy – EXTRACT

We will now start dealing with subjects pertaining to the Agile ADapT EXTRACT Phase.

Extract deals with understanding your organisation’s strategic options, choice and creating a dynamic mechanism for continually formulating and reformulating the strategic choices and direction on which the organisation can act!

EXTRACT is about Strategy AND making sure the Strategy works!

In today’s fast changing world, organisations need to rethink and re-frame their strategic response in line with shifting demand patterns and market conditions, etc., but not necessarily continuously try to reformulate their strategy.

The real focus from a strategic perspective is that boards and executives need to make strategic shifts to create an enabling environment as discussed in the following slides.

The Extract phase aims to help organisations draw the line between what needs to change continuously and what needs to remain more stable, in order to provide the stable foundation upon which an agile and sustainable business can be built.

Extract is the job of extracting a viable and sustainable strategic direction, which will ensure that the rest of the organisation is able to act on the direction given. In essence, if you are looking at the whole organisation – Extract answers WHAT and WHY questions.

During the Extract phase SIX DISTINCT activities need to happen:

  1. We need to know who and what we are
  2. We need to know where we are and where we want to be
  3. We need to define what “there” looks like at a high-level and in the context of the whole of the organisation
  4. We need to recognise that getting “there” really depends on what the organisation is capable to do and ensuring that the organisation can get there in the most appropriate manner.That means we need to re-evaluate whats available now to get it done
  5. To that end we need to ensure that the basic building-blocks for success is in place and lastly
  6. We need some for of a high-level plan

This section will be divided into sections dealing with each of these topics, but first some other useful discussions will need to take place.