As just about every current business book will tell you, the pace of change in today’s business environment is greater than it has ever been. However, this ever-increasing rate of change isn’t unique to the early 21st century. It’s been occurring for several decades. What is unique today is the nature of change – not just the speed of change but also how broadly and deeply change can impact your business.
So, the danger for today’s businesses is that it’s ever-more likely that the pace of change will create a tipping point. A point where, once you’ve fallen behind, it is no longer possible to catch up. That crucial point where if you miss the wave, you can’t paddle fast enough to hop back on.
In the last episode of my Projectify Points vlog, I talked about how change is your most formidable competitor. In this post, I want talk about how the nature of change has shifted to give it a ‘competitive edge’.
How quickly does change enter your market or business?
In my last Projectify Point, I made the passing comment that, today, your greatest competitor is no longer the businesses that do the same things that you do – it’s ‘change’. In this episode, I want to dig into that idea a bit and how it relates to your strategy-making.
In today’s environment, it is increasingly likely that your most formidable business challenges – as well as your greatest opportunities – won’t come from your traditional competitors. They’ll come from change – changes to the business landscape in which you operate. It’s your most formidable competition in the sense that change now moves with much greater speed and has the potential to create much more profound shifts than your traditional competitors ever could.
How does this idea of ‘change’ being your greatest competitor sit with you? How might it effect your approach to strategy making? I’d love to hear your thoughts and experiences in the comments below.
If you want strategy-making to help you to be more adaptive and evolve in today’s highly dynamic and uncertain business world…to better connect your people to a shared sense of purpose…then you need to understand what ‘strategy’ actually is. More importantly, what it should be if you are to shape the sort of business you hope to become.
In the first episode of my Projectify Points vlog series, I share my perspective on how the aspirational nature of strategy should make it a perpetual journey into the future – one that has direction but no destination…no end point.
The belief that a business is ‘either growing or dying’ has been entrenched in our strategic mindset since the mid-twentieth century. However, in today’s ever-more-dynamic business environment, organisations that are focused on adapting to change are the ones that thrive. These businesses believe that you’re ‘either evolving or risking extinction’.
After nine months of blood, sweat and tears, my book project PROJECTIFY – How to use projects to engage your people in strategy that evolves your business is finally released into the world.
This is no big Bestseller Launch…no Grand Opening (thanks Seth)…there are no Adword campaigns …no free giveaways for the first 100 people that click the link below.
This is the beginning of a journey. A consistent and persistent journey to share my ideas with those people who believe the relationship that a business and its people have with their workplace is changing. People that believe that creating businesses that are more focused on evolution than growth will be required to thrive in the highly dynamic business environment of the future. That the adaptation necessary to drive this evolution can only come by tapping into the depth and breadth of an organisation’s capability – by fully leveraging the skills, experience and thinking of its people.
I had the pleasure of spending Friday at my colleague Mykel Dixon’s Business Romantic 2017 event in Melbourne. This event was conceived as a contrast to the archetypical business conference with its jam-packed agenda of speakers, carefully curated to serve a central theme. The event title was drawn from the work of its featured speaker, Tim Leberecht. Its design was far from the careful curation of a singular message. The other facilitators (a better term than speaker in this context) were as diverse in message, style and delivery as they could possibility be – from poet to performance artist to entrepreneur. The progression of the day was more an exploration than an agenda. However, the shared purpose of the event was clear – the radical humanisation of the workplace. Read more →
I believe that exceptional business performance – be it customer service, product development or growth and profitability – comes from operational excellence. It comes from a team that is constantly striving to be great at the job of delivering value to your customers. It comes from not accepting ‘good enough’ but from constantly searching for ‘better’ – constantly searching for greatness. Looking to create a culture of operational excellence is that search for greatness. Read more →
Most people base their view of what’s possible in the future on what has happened previously – their history, including all things leading up to the moment they contemplate beyond ‘now’.
While it’s normal to base our worldview on past experiences – and this is as true for individuals as it is for organisations – this belief that history pre-determines our future can create a chasm between current reality and new possibility. Read more →
Devising a strategy is an organisational journey. Like all journeys, it needs a destination. It requires that you set a course – or at least a direction – to take you toward that destination. To make the journey, you need to choose an appropriate vehicle – one that is suited to the terrain. Finally, for it to be an organisational journey, you need to mobilise your people to head off in search of that destination – and one of the most effective ways of doing this is through project prioritisation. Read more →
I have a love-hate relationship with ‘Productivity’. On the one hand, productivity, in the right circumstances, is an essential part of being an efficient business and delivering value to your customers. Its measurement is also invaluable in assessing the effectiveness of your efforts to improve. However, far too many businesses believe that they can increase productivity simply by focusing on productivity – manipulating the inputs and outputs of the productivity metric. Read more →