Rapid changes in the world during the 21st century enforce companies to quickly adapt to this Hyper-changing reality and be prepared with immediate solutions in order to preserve their competitive advantage and even grow from it. This ability is known as “dynamic strategy”.
A dynamic strategy is the ability of organizations to pre-see changes and be ready with a detailed plan of how to react to various possible scenarios.

Development of a dynamic strategy includes 3 major steps:
First, research and analysis of expected changes and examining the risks and opportunities they impose on the company, including:

1. External changes in market conditions and competitor abilities including future growth forecasts, technology advancements and global environment turbulence.

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2. Internal changes such as change management, technology implementation and company ownership (M&A, acquisitions, IPO etc.).
 

Second, examine company strengths and weaknesses and the ability to develop and leverage on one while improving the other.

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Third, creating a dynamic strategic plan based on a combined model that takes under consideration the expected changes and the company’s abilities to enable prosperity in every scenario.

Building a dynamic strategy is important for any organization in the 21st century, it enables its successful adaptation to the Hyper-changing reality that is a main characteristic of our times.