Competing today while preparing for tomorrow

High-performing companies employ dual strategies: they maximize today's cap abilities and simultaneously develop new capabilities for the future. in th e past, most organizations could run and change their businesses using a si ngle strategy; even today, most companies do not clearly discriminate betwe en present and future. A single-strategy approach, however, cannot meet the challenges created by accelerating competition and change. Strategies for today ensure that functional and supply-chain partner activi ties are aligned with company strategy and harmonized with organizational s tructures, processes, culture, incentives, and people. They clarify segment , positioning, and resource deployment choices. Strategies for tomorrow inv olve decisions about how to define and position the future business. They s tart with visions of the future - for example, market territory and forces that might reshape it; competitive moves; strategy options and choices; nee ded competencies and resources; and knowledge of how to get "there" from "h ere." Achieving the right balance between a present and a future orientation depe nds on the situation. During times of rapid or extreme change, the future c omponent claims more attention; during more stable times, the present compo nent predominates. in any situation, however, both components must always b e addressed in parallel. Institutionalizing dual strategies requires that companies clearly define l eadership responsibilities, balance organizational structures and processes , develop systems for managing duality, and redesign control mechanisms. im plementation must begin at the top. Leaders at all levels of the enterprise must promote the need for dual thinking and communicate the two agendas an d their significance to people in every organizational nook and cranny. Dua l strategies succeed only if those who need to implement today and change f or tomorrow understand the reasons behind each.