Business can really be brutal and if you aren’t looking for what you need to change and improve, by default you are embracing an exit strategy.
Just tickle your memory banks to reflect on the number of technology products and companies that no longer exist. While some of that is because it was simply that they were beat by others with new and better technology and will continue to suffer that, the failure to meet the challenge can be from a misunderstanding of what the company really is. A recent example of that is Yahoo who just entered into a purchase agreement with Verizon for a fraction of its former value. Yahoo’s mistake appears to have been that it believed it was a media company and not a technology company. Their announced reason was because they didn’t have a revenue model (market) to go forward with and were too far behind to catch up. And a whole host of others in recent times preceded them, like Eastman Kodak, Compaq, Pontiac, and a variety of some of the biggest in every industry.
And yet change is one of the toughest things for us individually or corporately to embrace. What we are doing is working so why change it and run the risk of ruining what’s working. The answer is simple. One of your competitors, current or future, is already trying to find a way to do what you do better, cheaper or faster and when they figure it out they intend to take your customers.
By learning the obstacles to change, the process of change and the power of change, and building a culture capable of change you equip yourself and your business to meet the challenges of the future. Less than 3 of 10 leaders know how to do, create, and manage a culture of change. The rest are failing.
Getting from where you are to where you want to be as leader in career or business requires the ability to change and this is a core competency in the New Leadership Paradigm!
Barney Kramer, email@example.com and initial strategy sessions are always without charge or obligation!
Getting from where you are to where you want to be as leader in career or business requires the ability to be a good communicator is a core competency in our New Leadership Paradigm!