Capitalising on Outdated Strategies

by | Feb 15, 2021

Opportunity for leaders, organisations and industries comes in many guises. A great question right now, is how can I capitalise on the fact that no pre-pandemic strategy can possibly still be effective and useful?

It can take a while for the realization to sink in that a change of strategy is not up for debate. The hesitation is due partly to market uncertainties and partly to a hope that things will return to normal soon and we can just polish the old strategy and roll-on. 

Not so. Consumer demand and business needs not only shift rapidly in times of crisis, but underlying or emergent trends accelerate. 

It can see step changes happen. Recently, GM announced it is investing $27 billion in electric and autonomous vehicles in the next five years–up from the $20 billion planned before the onset of the COVID-19 pandemic. The company has changed strategy and will now become carbon neutral in its global products and operations by 2040.

The need for others in your sector to change their strategy is itself an opportunity for businesses supplying goods or services to businesses and for industry organisations and NGOs that engage with businesses. 

Instead of looking inwards and asking what your strategy should be, look to your market and ask how can we capitalise on the fact that our customers, clients or members will need to change their strategy? How can your products or services help them succeed?

It is stating the obvious and most would claim that is what they are doing now. However, don’t confuse the motion associated with thinking, talking and planning with the business outcomes produced when you decide and act.

There is much value to be created by helping others succeed. 

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