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The data is clear: businesses are disappearing faster than ever. Do they fail because of stubbornness or incompetence or something else? Business success contains the seeds of its extinction. Adherence to the formula that brought market dominance in the past almost guarantees failure in an increasingly volatile, uncertain and complex world. Relying on tried-and-true practices and old modes of thinking won’t get you out of the downward spiral, it only accelerates it.
Traditional strategic paradigms become constraints, once-innovative procedures harden into counter-productive routines, and core values that no longer inspire crystalize into inflexible policies. Innovation, for example, has always been at the heart of business success though not necessarily at the top of the management agenda. While it gets rediscovered as a growth enabler when things are going south and cost-cutting is the name of the game, grand strategic declarations and designs are too often followed by mediocre execution that produces anemic results.
Although counter-intuitive, the time to reinvent your business model and change the culture map isn’t when things are going downhill … it’s when you’re at the top. How smart and healthy is your enterprise now? Have you taken its pulse lately or do you even know how to measure it? Does your company have a fixed or closed mindset when it comes to its accomplishments? Is your current success obscuring the possibility of your eventual demise?
Not recognizing when the fundamentals of business have changed borders on corporate inertia and negligence. With the right tools and a different understanding of volatility, disruption and uncertainty, decline is not inevitable. The solution lies in recognizing and acting on some uncomfortable but rarely acknowledged truths. This one-session (three-hour) webinar outlines the scope of the problem and tells you what you need to do to ensure it doesn’t kill your golden goose.