Get ahead of the game
If we suffer from short sightedness, we might use glasses, or contact lenses to correct this.
For humans, myopia is not terminal but inconvenient; for companies it can be far more serious.
A limiting mindset – Take it easy
Short sightedness, or giving insufficient attention to the future, can develop easily. Working within our comfort zones can become increasingly tempting as a company grows, where decision-making can seem less vital. This can result in leaders disregarding innovation, believing their existing approach to be successful and therefore, being no need for adjustment.
You might think: ‘I’ve worked so hard, why can’t I sit back an enjoy it for a bit?’
There’s nothing stopping you taking this position, and to a degree, you may be entitled to take a break, rather than pushing forward. Losing sight of evolution doesn’t necessarily constitute negligence, as current challenges can form what seems like insurmountable distractions. However, ignore future possibilities too long and your business is in danger of falling into irrelevance, as competitors who invest in R&D catch-up and overtake you.
Discover better ways of working, or eventually you will be left behind.
A missing element – Sigmoid curves
Intellectual, Charles Handy, relates anticipation and looking ahead to sigmoid curves (The Empty Raincoat, 1995). A sigmoid curve is roughly S-shaped and can be compared to the cycle of a company activity. Handy breaks this down into three stages that represent learning, growth and decline, all matched by their varying rates. Check out the diagram below…
Handy suggests that before a business reaches the peak of its curve (and progresses to the decline phase), it must start to plan ahead and jump from its current curve to another. You can see this illustrated in the diagram above as gradient of the solid line becomes negative, the dashed line offers a more positive direction.
Ensure you are jumping from the first curve to the second before your profits fall and your stakeholder engagement dwindles. Simply put, an organisation must strategise while successful, rather than wait for decline or a crisis point.
A different perspective – Shelf life
Successful companies demonstrate continual evolution in their offerings, services and the way they promote these. Whilst some might argue iPhones don’t need an ever-increasing number of cameras, it does clearly show the purchaser of the latest handset that they own a new and improved product.
Even classic brands such as Heinz, who sell a range of well-loved offerings must explore new avenues, such as creating products for people with dietary requirements, or using more environmentally friendly packaging. It’s all about business intent.
Perhaps the most vital reason to demonstrate company development, is to show your clients (and other stakeholders) that you are attempting to find better solutions for them.
As much for your employees as your clients, if your company isn’t looking for fresh ways of functioning, why should they be excited by what you do?
All initiatives, offerings and strategies have a shelf life. They may not go out-of-date completely, but will require continual attention and interrogation to keep them urgent and appealing to your market.
Leadership is not about maintenance; if you don’t instigate the drive to find better solutions, who will?
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