Scott D. Anthony, a US speaker and advisor on topics of innovation and growth, tells the story in his new book Dual Transformation: How to Reposition Today’s Business While Creating the Future.
Constant change is the new normal
You need to reassess and change your organization often, otherwise you won't survive. The developments are just too fast. You not only need to reposition your core business, but also start a new separate growth engine. And that is, as well, a repeated process. If you don’t get it, that will be the end.
There is a big warning sign that can be used to recognize an approaching disruption. Employees. They can spot signals about new, emerging competitors or a shift in customer preferences.
You must also make sure that everyone in your organization understands change as an ongoing requirement from now on, according to an article on the quickbase.com website.
So here is your manual for surviving disruptions:
- Reposition your business to boost its resilience.
- Assess opportunities and create a new growth engine, separate from your current services.
- Take advantage of assets you have, and that aren't easy to replicate.
Also, don’t merely listen to your current best customers. You can't develop your strategy this way. Customers have very different ideas. To figure out how you can really solve their problems, you need to think.
Book: Dual Transformation: How to Reposition Today's Business While Creating the Future by Scott D. Anthony; Harvard Business Review Press, April 2017; 272 pages
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