We all know that technology change is impacting every business at an exponential rate. If you own or manage a business it is something that you can’t afford to ignore. Murphy’s Law and Wrights Law were developed so the approximate rate of change could be identified. Believe it or not, even though they were created in the 1930’s and 1960’s they can still be relevant today.
You only have to look at the impact of mobile and social technologies on every business, regardless of size or industry. There are not too many businesses these days that don’t have some form of social media presence. Most businesses are continually scrambling to determine their ideal customer, how to engage with them and drive revenue. But there is one thing for sure, companies that are built to win are built to change.
Companies that are built to win have a number of key characteristics. They understand what they have available to them, what it costs and how to use it effectively. They determine the best allocation of capital and energy and continually build capability, whether that’s internally or with partners. They understand that planning cycles are shorter than ever before. They take advantage of new technologies and build capability around them, constantly aligning strategy and activities.
So what are 4 things you can do to help get your company built to win?
- Get across what is happening in your business and industry and identify potential disruptors and enablers.
- Identify where your business is at and where it needs to be.
- Develop your execution and change plan.
- Make quick wins small and constant.
Jackie O’Dowd is the CEO of Realising-Potential a boutique management consultancy that transforms business through step-change processes and strategy alignment.