Light refraction through a PRISM
Prisms break white light up into its constituent spectral colors (the colors of the rainbow). Light in this case represents the day to day reality and the Prism is your business. If positioned well, the reality will break up into neatly separated colors which make sense. Based on your choices, your business will break up the day to day reality differently and the resulting image will change.
The process of strategy definition and implementation means redefining your PRISM across the dimensions of product, process, and people. PRISM can help you understand how to break up the same light differently, or how to react to a new light or new reality.
The methodology looks to three key control dimensions: product, process, and people and translated them into three operational dimensions of your business: value creation (or innovation), value capture (or business model), and value realization (or culture) to identify the key dynamics and hurdles for implementation of a strategy.
Implementing a strategy means introducing the element of time and where traditional frameworks like the business model canvas are static assessments, PRISM is able to uncover the relations and tensions between the dimensions over time.
Ultimately PRISM aims to provide a framework for businesses to expand their impact sustainably across all 3 dimensions and anchor their strategy execution in purpose.
Why are ESR (Ethics, Sustainability and Responsibility) ambitions seemingly deprioritized during strategy implementation? What can business do different or better in the future to balance these new goals with traditional value drivers?
That was the question that drove Talia Stough, PhD and Sam Van Calster to develop the PRISM framework and address a gap between strategic plans and its execution.
Taking a wholistic view of your business and its interactions with the stakeholder environment - anchored in purpose - PRISM introduces the element of time to help you understand the interdependencies between Value Creation, Value Capture, and Value Realization through choices you make in your offering, organization, and people.