Friday, 15 May 2015 13:36

Jumpstart Your business

Jumpstart Your business by R “Ray” Wang (HBR)
blog 2 jumpstart

The punishing forces of quarter-to-quarter performance expectations have forced business leaders to scramble for short-term profit gains at the long-term expense of the organization.  Because of those short-term bets and strategic pivots, organizations are struggling to meet ever-changing customer needs, are challenged to drive margins, and find themselves vulnerable to non-traditional competitors and unattractive to potential employees.  This confluence of forces has led 52% of the Fortune 500 to be acquired, merged, go bankrupt, or fall off the list since 2000.

Business leaders aren’t oblivious to this. We know it.  We feel it.  We all wonder why we insanely continue to do the same thing.

So what’s the problem? Why do we have such a hard time spurring more rapid growth?

First, look at how your organization allocates time and money to its various priorities. Most organizations follow what I call the business hierarchy of needs.  Like Maslow’s hierarchy of needs for individuals, with safety and physiological needs (food, water, shelter)  at the base and ego at the top, the business hierarchy of needs has five stages.

Let’s look at each stage, from top to bottom.

Brand: priorities focused on expanding the image and appeal of an organization’s outside perception including building connectedness.

Strategic differentiation: priorities that create game changing transformation or business model disruptions including the adoption of newer social enterprise apps or connected business solutions.

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