When Business Is Good
Many leaders are tempted to take growth for granted when business is good. But there is a lot of evidence that success can cause unwanted leadership complacency and strategic vulnerability. If you are comfortable with the current performance of your business, chances are that you need a more aggressive business strategy to avoid drifting into some dangerous waters.
Don’t Let Your Guard Down
Business leaders need to be vigilant. They need to challenge and update their strategy so they can flex to challenges that threaten their organization’s good health. Whether the source comes from unanticipated technological innovation, changes in economic conditions, or political instability, it is the CEO’s job to keep abreast of possible threats and create a strategy to deal with them.
Think Externally to Create a More Aggressive Business Strategy
Instead of mainly looking inward toward the processes and systems required to support your growth, make sure that your primary strategic focus is external – on your customers, your competition and your marketplace. Continuously challenge your strategic assumptions and ensure that you will do what it takes to:
This is the way to create an aggressive business strategy.
The market may be in your favor now, but what disruption might lurk just around the corner? Look at trends. Don’t discount any until you have asked “why not.” If only Kodak had questioned their business model by asking, “Why not a switch to digital cameras?” or if the taxi industry had anticipated or reacted to Uber earlier.
Your best source for information on your current business strategy may not be your good customers; it more likely will be those dissatisfied customers. They are the ones who have found your product, or your customer service, or your pricing model lacking. Find out what sent them away and make any necessary tweaks before there’s a rush of your customers elsewhere.
Pull together a cross-functional team to really put your business model to the test. Consider possible scenarios to think through what might happen if various high-impact situations should occur. Some companies have found success setting up strategic scenarios whereby one team defends the current strategy while another attacks it. This can be a great way to highlight the organization’s vulnerabilities.
The Bottom Line
Beware of leadership and strategic complacency. It can make your organization vulnerable to unexpected threats from technology, the economy, and your competition. Keep your strategy agile enough to address unexpected challenges.
To learn more about creating a more aggressive business strategy, download Do You Have the Right Culture to Drive Your Growth Strategy Forward?
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Vice President of Human Resources
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Kim Silva, CFO
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Cindee Van Vleck
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We value our relationship with LSA Global. We came to LSA because we wanted to improve overall behavioral based interviewing capabilities of our managers to increase the probability of both hiring top talent and future leaders. LSA designed a highly customized solution for our business and culture. We are currently rolling out this solution to our leaders. I would highly recommend LSA Global as a top quality resource.
HR Project Manager - Training & Development, PHR
LSA has been a tremendous asset to my portfolio, both at my current company and my past company. As an HR leader, I am always looking for ways to find external resources that can provide a solution to our management training needs. LSA does that for me. Their solutions are presented in a much more leadership-oriented manner so as to be crisp, business relevant, and easy to apply right back on the job. I will continue to augment our programs using LSA solutions.
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LSA helped to meet the needs of my teams within a very narrow timeframe. My team walked away with highly useful management tools and practices. LSA saved us time in delivering the right solution for our specific needs.
Director, Software Engineering, EPG
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VP Human Resources
Thank you to LSA Global for their partnership and support in helping us to design and roll-out our valuable management development training program. I personally have partnered with LSA Global at four of my previous companies. It continues to be a delight working with LSA. We look forward to partnering with them at Blackhawk Networks for future training and consulting needs.
VP Human Resources
We engaged LSA to design and deliver a 6-month custom executive coaching program for a group of our key leaders. The focus of the program was to help a core group of senior leaders to leverage previous investments in management training, to ensure the engagement and retention of key employees, and to push critical strategic initiatives forward. Even with the high expectations of our senior people, LSA has completely exceeded our expectations. I would recommend them to anyone looking to create and implement a custom coaching methodology using proven tools to drive true change.
Senior HR Manager - Staffing, Training, & Development
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