Executives, academics and consultants regularly design new strategy configurations. Their scope ranges from individuals to processes to culture to markets. They focus on competition, business models, differentiation, pricing, cost, structure, etc. They might apply only to select companies, economies or technologies, or maybe to all.
One that is appropriate for today is what we'll call the "Turducken Strategy." A dish often served for Thanksgiving, a turducken is created by stuffing a deboned chicken into a deboned duck, which is stuffed into a deboned turkey. Although not widely cited in the literature, the turducken strategy shows up on the table at a surprising number of companies. Would you recognize one if it was served to you?
What Is a Turducken Strategy?
Every strategy construct addresses both structure and composition.
Start with the structure. A turducken is made entirely of boneless poultry, hence has no discernible structure when served. There is no framework on which to build, validate or improve. Lacking form, it can be squeezed into just about any shape pan and will still be acceptable to the diner. Absent a structure, it is vaguely recognizable but not the same meal as we expect.
This outcome may be familiar to any company that has tried to create a strategy, start to finish, in a weekend retreat. Turducken strategy structure and process are often quickly selected from the experience of participants or from a quick literature search. Alternatively, it might be selected from "what worked" for another company. Without a solid structure, the resulting strategy can't stand up to stresses during execution. Just as often, without additional support, it collapses under its own weight.
As for composition, each component has its challenges, but you might recognize some of these.
Chicken. The chicken is at the center of the turducken. It is easy to chicken out by not laying the foundation for evidence-based decision making. A solid strategy, just as a solid meal, starts with diagnostics to determine status, needs and opportunities. You'd want to know diner preferences, dislikes, allergies, etc. The foundation for strategy is knowing the truth about financial performance, operational effectiveness, risk, quality, and agility. Without such a foundation, the meal and strategy run the risk of failure.
Duck. The duck is wrapped around the chicken, just as a formal strategy and business models are built around diagnostics, insights and articulation of needs. The tastes of chicken and duck complement each other and preparation must be coordinated. So too, a strategy and business models must be carefully prepared, validated with stakeholders and tested against alternative strategies.
Turkey. The turkey is the visible part of the turducken. Regardless of the quality and taste of what's inside, your dinner guests see, because of the lack of bones for structure, a misshapen turkey. It sort of looks like a turkey but something's not quite right. A strategy is presentable if it has strong performance management capabilities and management systems in place, but even these won't compensate for a foundation quickly built without structure, validation and quality ingredients.
Is your strategy filled with potentially good components but still looks like a turkey? Hard to tell until you carve it.
Does It Make For a Good Meal?
Trying to incorporate "best practices" from several strategic concepts into one construct leads to a strategy that is less than the sum of its parts. Imagine a car built of parts from a set of the "best cars." It wouldn't run because the parts don't complement each other. Strategies assembled from best practices from the literature similarly don't work because they were designed for different times, companies, economies, management practices or leadership styles.
The turducken is a clever idea but not one that a good chef would promote as a signature piece.
Your strategy deserves distinct and competent efforts to prepare the four elements of strategy as separate, but complementary, dishes, then making sure they work together:
- Know the truth about who you are, where you've been, what you are capable of and where you want to go (Organizational Diagnostics).
- Understand the pattern and focus of your possible activities that define your aspirations, targets, differentiation, capabilities and systems that pursue your mission (Strategy Formation).
- Define and validate a set of business models and insights into the external environment, all validated by key stakeholders, that will deliver operational effectiveness and market performance (Business Models).
- Implement and execute a system that provides evidence-based decision making and timely communication to keep you on track (Performance Management).
Turkey, duck, and chicken are all good for a meal - but best if all by themselves. Strategy is similarly best if it is intentional, well-planned and follows a proven recipe that those it is designed for can digest and enjoy.