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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