POST 1)

In reference to the explanations given in illustration 12.3, there are advantages and disadvantages to developing strategies incrementally.  By adjusting the strategy, a little over time, the big picture to strategy change will eventually become crystal clear.  Small changes will lead to a large change over time.  During those small changes the company’s strategy can stay relevant.  Without those small changes, there may be too much environmental change that does not allow the current strategy to keep up.  That is where the strategic draft can happen.  Also, no one is able to predict the future or how trends or environmental change will affect business.  So just like in chess, companies must make their best moves based on what they believe the other player will do.  This allows them to use data and trends to negotiate the marketplace.  The disadvantage of incremental change is that it might not be enough.  Small steps over time might lead to a large gap due to strategic drift that is too much for a company to come back from.  Advantages and Disadvantages to Developing Strategies Incrementally Essay Paper

POST 4)

I think one of the main advantages of developing strategies incrementally is that the company as a whole will learn from the “experimentation” which is taking place.  I am currently working outside of my typical career field, in a security management position.  Since I am not a security expert, it seemed overwhelming at first.  After a few months of getting into the swing of things, my bosses began to give me more challenging tasks.  Failure was an option with these tasks, but I was given the opportunity to do things in a manner that I thought was the best.  Experimentation is a great learning tool for both young and seasoned members of the team.  If you try something and it works, it builds your confidence.  If you try something that doesn’t work, you figure out the flaws and improve the process.  With incrementally built strategies, there is always the possibility of failure.  Any time a known good process is changed, there is a possibility that the changes will cause issues.  This can be a disadvantage, but the team will also learn about the process as a whole.    Advantages and Disadvantages to Developing Strategies Incrementally Essay Paper

I don’t think incremental strategy development will necessarily always cause strategic drift.  Businesses are currently in an ever-changing world, which is why I think the experimental outlook on strategy is beneficial.  The only way to improve a process is to try new things.  When you try new things, you will most likely be put into a position where you need to think on your feet.  If young team members are placed in positions where they have to come up with solutions on the fly, then some of them will grow into leaders that can avoid strategic drift. -HONEYCUTT  Advantages and Disadvantages to Developing Strategies Incrementally Essay Paper

Illustration12.3

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Advantages and Disadvantages to Developing Strategies Incrementally

Introduction

Incrementality is a common strategy in business. It means that you take small steps, one at a time, towards your goal. The idea is that by doing so you will feel more confident about the final outcome and be less likely to give up when things get tough. However, there are some disadvantages associated with this approach as well:

ADVANTAGES

The advantages of an incremental strategy development approach include:

• Building on existing strategies. This can be a good way to build on your existing strategy and test new ideas, as well as demonstrate stakeholder buy-in.

• Getting everyone involved early in the process so that everyone understands what’s going on, who will be affected by any changes, etc. This also helps avoid surprises later on down the road when stakeholders aren’t involved with another part of your project (e.g., marketing).

• Being flexible and adaptable—this allows you to make adjustments based on feedback from other stakeholders if necessary!

stakeholder buy-in

Stakeholders can be involved in the process, helping to shape the strategy and even implementing it.

If you’re able to get stakeholders interested in what you’re doing, they’ll be more likely to help with implementation.

flexibility and adaptability

Incremental strategy development is a flexible and adaptable process. It’s a better idea to start with a small piece of the strategy and build on it, rather than starting with an entire plan at once. This allows you to make changes as you go, which means your overall plan will be more effective in the long run.

You’ll also find that incremental strategies are much easier to adjust when needed—you can make adjustments quickly without having to start over completely from scratch or write off all your efforts so far!

Disadvantages

While incremental strategy development has some advantages, it also comes with some disadvantages.

The first disadvantage is that the process of adding features and functionality to an existing product can be slow and expensive. You’re going to have to make sure your stakeholders are on board before you start adding new features or functionality into your product because they might not be excited about how this change will affect them in any way (and even if they are excited about it, there could still be some resistance).

Second, full execution isn’t necessarily determined until all requirements are met; therefore it’s hard for anyone involved in developing those requirements (including yourself) understand what exactly needs changing once all requirements have been defined by stakeholders. This can lead developers making assumptions about what needs changing based on their experiences working with previous iterations rather than basing those changes on actual user feedback from testing sessions etcetera…

slow and expensive process

• Slow and expensive process.

• It can take years to develop a strategy.

• The cost of developing an incremental strategy is high, as it involves several steps. First, you need to identify what your current goals are and how you want them to change in the future. Then, you need to determine where those changes will come from (e.g., new products) or how they will be achieved (e.g., through outsourcing). Finally, once all this information has been collected and analyzed, it’s time for some hard decisions about which direction should be taken: Do we go with our gut instinct here? Or should we consult experts instead? In many cases where companies have been using incremental strategies over longer periods of time than others—especially during periods when growth had slowed down significantly—they found themselves stuck with little clarity about which path would be best for their company going forward; therefore having less flexibility when making decisions later on down this road towards success!

full execution is not definite

One of the most important lessons you can learn from incremental strategy development is that it’s not a guarantee of success. The strategy may never make it to full execution, if for no other reason than your organization’s needs or markets change. This doesn’t mean that your strategy was wrong; it just means that there’s no way to know what will happen in the future and how your strategy should adapt accordingly.

If you’re developing a new product, you might decide to keep it simple at first and see how things go before building out additional features around it. If people buy into this new product well enough (and continue buying), then they’ll be happy with its simplicity as well as their purchase decision making process—which means that even though creating a complex feature set right away might sound like an immediate win now (because we’ve all been conditioned by marketing campaigns encouraging us not get too attached), doing so could actually limit long-term profits down the road by requiring constant updates which require maintenance costs higher than expected profit margins would justify over time period required for eventual replacement cycle due at least once every few years depending upon type

Takeaway: Incremental strategy development has some advantages, but also some disadvantages.

Incremental strategy development has some advantages, but also some disadvantages.

• It’s a more flexible approach to strategy development. Incremental strategies allow companies to adapt their plans as they learn more about their competitors, customers and the marketplace in general. This makes incremental strategies more effective at adapting than other approaches because they’re constantly evolving with new information.

• It’s slower and more expensive than other methods of strategic planning because each step must be considered separately before moving onto the next one; this can slow down your process if you don’t have enough resources available or if it takes too long for someone else within your organization (like an executive) or outside of it (such as an investor) who needs convincing about why their ideas should be included in your overall plan

Conclusion

As you can see, there are advantages and disadvantages to developing your strategy incrementally. However, the advantages we’ve discussed do outweigh the disadvantages in most cases. In the end, it comes down to how much you value each of these factors during your decision making process—and whether or not they are an important part of your organization’s culture and goals.