Resetting your business
I had lunch recently with a business leader who believes that because the economy has been reset, organizations need to reset themselves. He suggested that if you’re “trying to hold on and wait for this to pass, someone is going to clean your clock.”
He continued to say that organizations need to have a new strategy and structure with a corresponding culture in order to be appropriately repositioned. In addition, he suggested that you have to innovate to figure out how you will change.This really resonated with me because as I talk to CEOs and business leaders, they are trying to stabilize. When I ask “Where are you going as an organization?” they talk about waiting for the market to recover. They also report how tired their employees are – that it’s been a long period of doing more with less. What I’m not hearing is how they hope to inspire their organizations toward the future.
• What do you think of this business leader’s advice?
• Are you resetting your organization?
• Do you agree with his premise that there has been a fundamental shift in the economy?
• In times of great change, are you changing how often you review your strategy?
Tell us what you think, what you’re doing differently in the current economic conditions, and share any advice you have for others.