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Creating Your Own Business Upturn!
We all see it . . .
business markets are trying hard but continue to be flat, easily scared, and
“frozen in the headlights," - - - primarily maintaining, and definitely
not building. Workforce attitudes suffer from a steady flow of negative
global and economic events, career disappointments, and the constant threat of
being laid off. Customers are
struggling to identify their path forward, which in turn makes it even
more difficult for any business to determine their own plans for the future.
The fear of post Enron scrutiny on business leaders and
organizations is ever present. When
will the “upturn” come?
In response, it seems
companies are moving forward on the back of very conservative and “tactical”
decisions and day-to-day activities. Why?
Because they are much safer, and not as likely to be second-guessed.
“Winning big” has become much less of a focus than not losing big! Unfortunately, tactical approaches focused on day-to-day
survival versus a bigger picture do not prepare companies for the future,
nor do they capture the immense value that is inherent in times of great change,
uncertainty and disruption. And the
longer this goes on, the more steep and slippery the slope on which they reside
becomes! But again, when will the
“upturn” come?
Sad
news . . . the general upturn that many are hoping will arrive to “save
them” is not coming. It will be up to each and every company to uniquely and
quickly use every part of the current business
environment they face to literally create their own upturn!
For a company to
create and continuously advance their own business upturn, they will need
to amass the full knowledge, talent, experience and capabilities of their
organization and in certain cases introduce some outside influences to:
- Identify
the "what, where and when" of their current environment while . .
.
- Simultaneously
identifying “exploitable discontinuities” and related new mountain tops
for the future, and then . . .
- Develop
short, mid and long-term commitments and plans that tactically harvest the
most out of today without compromising placement for success tomorrow.
Below are some steps
that can help companies quickly accomplish this:
1. Identify the
"upturn team" and include:
-
“Quiet
leaders", "unsung heroes", and possibly a "cynic"
or two.
-
Those involved
with the current situation at a management / tactical level.
-
New employees (and
especially those from other industries or companies).
-
Business
development, market research, “future minded” personnel (internal or
external).
-
Those who are
feeling the most “stress” from the current circumstances such as:
2.
Challenge the “upturn team” to fully:
- Define and
validate the current conditions with facts, not anecdotal conclusions.
- Identify
and understand the conditions that drive the current
situation.
3.
Analyze the causal source of the conditions, their
interrelationships, and identify patterns, trends, future "points of
change” and impacts, potential market "backlashes", new
opportunities, etc. and focus on the "critical few " items that
will have the greatest potential to create upturn value.
4.
Brainstorm and develop “value scenarios” that optimize the
near and medium term with a view toward maximizing the long term.
5.
Coordinate value scenarios with infrastructure development plans
and financial capability to identify and eliminate “barriers to success” and
validate return on investment before beginning.
6.
Communicate the vision and the tactical details as they apply to
each participant to create a constant "call to action" for successful
implementation.
7.
Compliment and encourage what people start, and enthusiastically
celebrate what they finish!
Fear,
uncertainty, and lack of ownership often inhibit participation, creativity and
expression of thoughts and ideas. It
is usually beneficial to utilize internal or even external facilitators to
overcome these concerns. In so doing, companies often find they have
created a "process" for thinking strategically AND tactically to
ensure the “upturn” created becomes a company way of life, versus a one-time
event!
Copyright
2003, PBK Communications. All rights reserved.
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