I have always and only worked for large Multinational Companies. Given that they have financial targets linked to shareholder value, closing the Quarter according to expectations is a must . This may include, as explained so well in this HBR article, "prioritizing the urgent, the proven, and the easily measured". So, how to avoid this "Strategy Myopia" threat?
In my experience, what I have seen working:
🙋♀️ Create cross functional workstreams to solve long-term challenges as a sort of internal "think tank", being proactive rather than reactive
✈ Send people to Congresses and get them exposed to current burning topics such as AI, etc.
👨🎓 Organize Advisory Boards on specific subject matters, together with customers and expert outsiders (such as University Professors), to co-create innovative business models for the future
And you? How are you thinking beyond the next Quarter closing ?
Spoiler: if you want to know HBR's 5 principles to avoid Strategy Myopia, you have to read the article!
Risk Leader & Speaker| Transforming Risk Functions| Founder of Canary Risk
1moLOVE THIS. What a challenge!