Strategic Drift

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Strategic Drift

🔥 Strategic drift is the situation wherein the strategy of a business is no longer relevant or suitable to the challenges, opportunities and threats of the external environment it is facing.
This normally happens gradually as a consequence of changes in the external environment over time.
No company is able to control its external environment. So to counter strategic drift, a company facing strategic drift should either run a formal, deliberate planning process or deploy an emergent strategy process. And this has to be followed by some form of strategy implementation process and change process to adapt the organization and its offerings to the environment. Otherwise the firm is likely to become irrelevant to its market over time and cease to exist.

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		1 geoffrey biwott Kenya
	Example of Strategic Drift Strategic drift is a current concept in modern management and organisations especially in handling environmental changes in business. A classic example is the Covid era now. Where businessess are facing great environmatal and situational changes and there is a lot of strategic drift.

		1 Philippe Barteau Entrepreneur, France
	Covid Will Cause Quite a Bit of Strategic Drift @Geoffrey biwott: Yes! I see strategic drift as the gradual deterioration of competitive action that results in the failure of an organization to acknowledge and respond to changes in the business environment. The Covid virus caused a sudden global crisis. It is debatable if Covid is a Black Swan or that it was foreseeable. But in any case, there are probably going to be a lot of companies who fail to adjust their strategy that is no longer relevant, thinking that things will return to "normal" soon.