Light refraction through a PRISM
Prisms are either used to break white light up into its constituent spectral colors (the colors of the rainbow), to reflect light, or to split light into components with different polarizations.
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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.
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The process of strategy definition and implementation means redefining your PRISM across the dimensions of product, process, plan, and people. PRISM can help you understand how to break up the same light differently, or how to react to a new reality (light).
PRISM strategy
Methodology
PRISM, is an acronym for:
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Purpose anchored
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Responsibly resourced
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Impact driven
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Strategy development
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Methodology
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The methodology looks to four key dimensions: product, process, plan, and people to identify the key dynamics and hurdles for implementation of a strategy.
Implementing a strategy means introducing the element of time, and through time:
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Product transforms into value creation
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Process becomes business model execution
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People make up your company culture
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Plan is lifted to a vision
Ultimately PRISM aims to provide a framework for businesses to expand their impact sustainably across all 4 dimensions and anchor their strategy execution in purpose.
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The PRISM framework is currently being co-developed by Talia Stough, PhD and Sam Van Calster to address a gap between strategic plans and its execution. Specifically, PRISM focuses on understanding how ESR (Ethics, Sustainability and Responsibility) ambitions can withstand the harsh reality when facing challenges of limited resources and increasing pressure to meet traditional value drivers.