Andrew Grove, former President & CEO of Intel observes, when a 10x change in one of the 6 competitive forces takes place "you can lose control of your destiny."
This is a Strategic Inflection Point.
Exciting to be involved in, as I found out myself, it can be either a great opportunity or a catastrophe.
Sometimes both at the same time.
They are those events when structural change destroys businesses and creates new opportunities.
When they do occur they are catastrophic.
If you are in the legal, media or IT sectors you will know how it feels – you’re in the middle of one.
Do you have a good team checking the radar for incoming apes? Every company, however small should have a system to ensure it is aware and prepared.
The bad news is, most organisations are less than effective at strategic planning. Good ideas are not the same as a set of well developed and agreed strategies.
This article ‘Why the Best Executive Teams Can Make The Worst Decisions – And what you can do about it’ from forbes.com explains why involving outsiders, whether as non-executive director, business coach or mentor, helps this process.
Is your Board of Directors effective at scanning the horizon for these great apes?
Call me to chat through how your Board can be pro-active in this area.
I'd love to hear about your business.
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