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Once, in the not-so-distant past,
leaders of companies ran their
businesses in a similar fashion.
The business model they relied
on had three parts. Evaluate
your market extensively, create
a detailed business plan, and
implement like crazy. Today,
however, companies are turning
this model on its head. At least
many companies. Now there are
new models in town challenging
the way we do business.
Simply put, it’s clear that
today’s business environment
is constantly evolving, and
executives face new pressures
every day. Let me tell you about
one of our clients, who owns an
integrated marketing firm. We’ll
call her Sally. When Sally started
her business, video was just
being added to websites and no
one had heard of Twitter. She
provided quality videomarketing
products, integrated with print.
Today, her firm is heavily into
social media with Facebook
live communications, as well
as the more traditional forms
of marketing. Sally has had to
adapt to remain competitive.
She is not interested in detailed
plans, but instead she focuses
on short bursts of innovation,
reviews the results and adapts
again with new improvements.
It’s crucial for leaders to stay on
topof industry trends and remain
open and adaptable to change.
The business models leaders
employ
have
transformed
into adaptation-driven models
and visionary models. It just
depends on how far out in
front the company can distance
itself from its competition. The
Boston Consulting Group has
written extensively on these new
models, and I am not here to
have a lesson on new business
models. Suffice it to say, it’s
important for business leaders
to take a hard look at what is
the best approach for their
companies.
An important element about
handling change, is that our
client, Sally, is aware of her
company’s strengths, and she
remains vigilant about making
certain she has the right talent on
board to handle the types of new
work products she is delivering.
This is no easy task. But before
making changes in the trajectory
of the business, Sally and I have
reviewed where her business
currently stands. We identified
Planning for Change and More Change
By Ann N. Gatty, Ph.D.
SOAR TO SUCCESS
/
A
pril
2017
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Business Acceleration Strategies