You must rethink your company's playscript and if possible reinvent the entire sector's playscript.
Last but not least, looking at your playscript will allow you to better communicate with your workforce.
The first level is the corporate playscript, which describes how value is generated and appropriated by corporate headquarters.
The financial subplot should also be aligned with the playscript, the business playscript, which reaches beyond the corporation.
The financial subplot of the corporate playscript describes how the company uses its assets and capital to generate returns.
Infocious (now called Lingo Semantics) worked on creating a new playscript and realized that it had chosen someone else's plot.
The third step is to future-proof your playscript by making sure it can cope with any foreseeable changes in your business.
Infocious' initial mistake was to define the scope of its playscript too narrowly, with a set of assumptions that were out of date.
The playscript that had brilliantly worked for Google wasn't relevant anymore.
Most of the value, though, emerges from a creative rethink of the business playscript, for it holds the key to value generation at the business level.
By rethinking its playscript, the company was able to monetize its technical advantage, create new links to customers and find a profitable, future-proof niche in a fast-moving, unforgiving environment.
Basing the creation of strategy on playscripts not only can improve the level of buy-in within the organization, increasing alignment and effectiveness, but also can start a feedback loop, ensuring that the organization continually updates and modifies its playscript.
Managing the financial subplot too cleverly may hurt synergies, and focusing only on growth will hit the bottom line, but by considering the financial subplot at the same time as the business playscript, executives can bridge the chasm between corporate finance and strategy execution.
The analysis of your playscript can help challenge your assumptions about what the industry looks like and where profits are or will be made, helping you move beyond looking at current financial results to seeing the logic and the causes of the drama you're engaged in.
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