{"id":43970,"date":"2022-02-16T09:44:52","date_gmt":"2022-02-16T14:44:52","guid":{"rendered":"https:\/\/balancedscorecard.org\/staging\/?p=43970"},"modified":"2022-02-16T11:07:54","modified_gmt":"2022-02-16T16:07:54","slug":"four-lessons-in-strategy-from-the-game-of-chess","status":"publish","type":"post","link":"https:\/\/balancedscorecard.org\/staging\/blog\/four-lessons-in-strategy-from-the-game-of-chess\/","title":{"rendered":"Four Lessons in Strategy from the Game of Chess"},"content":{"rendered":"\n[et_pb_section fb_built=”1″ _builder_version=”3.22″ global_colors_info=”{}”][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.14.7″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]

\"\"If you have watched the recent blockbuster series from Netflix, \u201cThe Queen\u2019s Gambit,\u201d you can understand why chess is showing such a resurgence in popularity. In fact, there are many books about how life imitates chess. What I\u2019ve seen in my experience here at Balanced Scorecard Institute (BSI) is how it also imitates business, especially in the arena of performance management strategy execution<\/a>.<\/p>\n

I vividly recall my first three games of chess played more than 50 years ago. If that seems oddly specific, it\u2019s because my opponent, a year younger than I, beat me mercilessly in less than six moves each time. The experience was humbling but those defeats turned me into someone who could hold his own and become a formidable chess player over the next half-century. It also gave me a great appreciation for the importance of strategy when it comes to performance and winning.<\/p>\n

Chess is a game that is loved by many all over the world. It presents an intense intellectual challenge that has many benefits, not only for your mind, but for your business. Let\u2019s take a brief look at the game, its challenges, and the lessons it can provide for organizations in today\u2019s rapidly changing world.<\/p>\n

1. Assess the Entire Landscape<\/span><\/h3>\n

When someone is skilled in chess, they learn to anticipate their opponent\u2019s next move \u2014 often several moves in advance. To accomplish this, a player must be able to know their opponent, understand their perspective, and come to a logical conclusion of what action they will likely take from among many possible scenarios. They must not only quickly recognize their opponent\u2019s strengths and weaknesses, but also their own, then determine opportunities as well as assess any potential threats that could derail those plans. In other words, it is a continuous SWOT (strengths, weaknesses, opportunities, threats) analysis.<\/p>\n

Sound familiar?\u00a0 It should. Successful strategy takes into account these SWOT elements and examines them from a micro and macro viewpoint. It is important to know what your organization\u2019s capabilities are, but it is equally important to understand the external influences over which your organization has little or no control over and their potential to disrupt your organization\u2019s strategy.<\/p>\n

Many organizations today focus on the development of a strategic plan just to say they have one. Often, insufficient effort goes into this process. And if a thorough SWOT analysis (both internal and external) is not part of the process, you end up with a nice document that brings little or no value to the organization.<\/p>\n

To be successful, organizations must learn to respond to the current environment\u2014that is, respond to what\u2019s happening on the \u201cchess board of business\u201d and just like a chess match, be willing to abandon any pre-conceived plan and have the ability to respond decisively to gain the advantage over the competition. In other words, a chess player must play what\u2019s happening on an unpredictable board and not rigidly adhere to a strategy. A good strategy does not lock you into a specific course of action but provides you with agility and the ability to make adjustments to quickly respond to changes in the environment.<\/p>\n

You may be able to execute on a strategy but doing so without considering the ever-changing bigger picture will almost always yield results far below expectations or targets.<\/p>\n

2. Improve Performance<\/span><\/h3>\n

Winning at chess requires taking the necessary time to truly analyze and understand your environment. But chess is also about staying laser focused on what you are trying to achieve. Your business environment is no different. While it is important to be agile in a hyper connected marketplace, you must still know where you are going and the results you intend to deliver. This clarity combined with a holistic awareness of the environment gives you improved decision-making capabilities and puts your organization in a better position to handle challenges as they come. You are more aware of what disruptions are likely to occur and have developed different scenarios that allow you to adjust course based on the circumstances you find yourself in.<\/p>\n

In chess, each piece has a specific value; each has strengths that if leveraged properly can change the outcome of the game. Likewise, it is essential that an organization\u2019s leadership team understands the value of its employees, customers, and stakeholders. This type of knowledge is invaluable in decision making regarding job roles and responsibilities, accountability, marketing, sales, customer satisfaction and much more. Here are some tips to help you assess the value of your stakeholders, including employees.<\/p>\n