Companies need to continually adjust their business models to keep up with industry changes. But, many are not asking the correct questions and so making the wrong changes. KEITH COATS outlines five areas that business leaders need to focus on.
In a world of exponential change, leaders need to ‚Äòlook out the window’ to see what will disrupt their industry or business model. To assume that past success, significant market share or longevity will serve as barriers to sweeping disruption is dangerous thinking. Agility, nimbleness and adaptability will need to be part of your company’s DNA in order to thrive into the future. The starting point in developing these characteristics is to be ‚Äòlooking out the window’ and framing the right questions to be asking. The effectiveness of your strategic intent will depend on how and where you look and the quality of the questions you ask as you do so. It is that simple: it is that complex.
There are five disruptions that we in TomorrowToday believe will shape your future. The framework that we have developed to engage with these disruptions is known as the ‚ÄòTIDES of Change’ and is one that we have presented and consulted on throughout the world across multiple industries. ‚ÄòTIDES’ is an acronym for each of the disruptions to pay attention to as you ‚Äòlook out the window’. TIDES offers a means of being able to have a coherent conversation about the future and develops a deeper understanding as to ‚Äòwhy’ and ‚Äòhow’ things are changing.
Here then are five disruptions that you cannot ignore.
Against this constantly moving backdrop, Leaders need to intentionally build a systematic framework that will yield a bigger picture and understanding from which they can then think and act. It is not the strongest or the most intelligent that survives but rather those most responsive to change. That wise Sage, Peter Drucker once said, ‚ÄòThe greatest danger in times of turbulence is not the turbulence, it is to act with yesterday’s logic’. He was right. The TIDES framework is a way of paying attention to what is happening ‚Äòout there’ in order to know what to do ‚Äòin here’. So what are the question you should be asking, but aren’t?