Ahead of the Chief Strategy Officer summit in Melbourne this February 10-11, we spoke to Mark Drasutis, Senior Innovation & Product Lead at News Corp Australia. He is an experienced innovator with many years working at some of the world's most innovative companies. Here's what he had to say.
How do you design strategies which have the capacity to adapt in the face of a changing market?
Strategy is about creating value for the business and therefore we design our strategies to be adaptive and use an incremental approach to all of our customer facing executions of this strategy, so we are able to respond to market and customer signals.
What impact has technology had on company strategies?
Disruption is not just about technology, but is always around the business model. Technological change has meant that our strategic thinking and planning has to be adaptive and agile to reflect. embrace and be independent of technology, but more focused on the core customer need and channel.
What is the link between culture and strategy?
The culture of a business is a reflection of how aligned the business is to its strategy. If you do not have strategies, structures and systems which are aligned, then you will not have a culture which is focused on delivering the strategy.
Should all companies act like startups? Is it even possible?
Businesses today are being disrupted from all directions, so thinking, operating and acting like a nimble, agile and lean business (aka: a startup) will allow to create your own disruption. Using the methodologies, toolsets and thinking of a startup is more important than acting like a startup.
What skills does the ideal leader possess?
Leaders are about people, managers are about tasks. Leaders need to challenge the status quo, take the business and employees on a journey to growth and increased value, alongside building a culture of trust, respect, transparency and the space to test, experiment and learn.