Changes the Source of Opportunities
Mature companies must learn to be
young at heart and
Executives who recognize that the days of slow change are over, will find
boundless new opportunities around them.
The changes creating new opportunities for
innovation can be both within the enterprise or industry and outside them. A
three-level business intelligence system is thus to be established to collect
and analyze information from within the enterprise; industry and market
structure; and external sources, such as demographics, changes in
perception, and new knowledge. Innovators who want to exploit new knowledge
need to apply a careful analysis of the knowledge available and the
brings opportunity to
those who can grasp it, and the discontinuities of the
new economy offer unlimited opportunities."6
Yin and Yang of Change Management
out best for those who make the best of the way the things work out."
Innovation is the specific tool of
entrepreneurs. Doing new things, or doing old things in new ways is how
exploit change as an opportunity for a different business or a
Entrepreneurs see change as the norm and as healthy; they
always search for change, respond to it, and exploit it as an opportunity.
Leader: 4 Specific Attributes
Using Strategic Intent to Encourage the
Quest for New Opportunities
Strategic intent is senior management's primary
motivational tool for radical
Senior management uses strategic intent to communicate a misfit between
current resources and corporate aspirations and motivate idea generation
when it actively encourages the quest for new opportunities...
3 Strategies of Market Leaders
Top 10 Essential Requirements To Be
A Great Strategic Thinker
Essential Element #4: You must have an extremely high level of awareness
of what is happening around you and be open to absorbing all that you
can. In any business, there are clues, often subtle, both internal and
external to help guide future direction and to identify opportunities.
Great strategic thinkers take all of this in and then they set aside
time to think about all the experience and information to guide them in
the planning and working on the issues, challenges and
that lie ahead...
The Power of Your
If you build broad
expertise, no idea will be wasted! Your
mind can accept
only those ideas that have a frame of reference with your existing
knowledge. It rejects everything else. If your knowledge is functionally
focused, you'll be open to new ideas related to your functional expertise
only and will miss all other learning and innovation opportunities. If you
develop a broad cross-functional expertise, no new idea will be wasted. It
will immediately connect with the existing knowledge and will inspire you, energize you, and encourage your
The broader your net is, the more fish you catch...
Seek the Optimum Balance
The task of a
process manager is to
systems, within a sensibly structured business, that
empowers employees, and
enables people to
achieve higher productivity and greater
book, Control Your Destiny or Someone Else Will, an analysis of
Jack Welch's GE
and a business classic hailed as the unofficial
GE Leadership handbook, Noel M. Tichi and Stratford Sherman cite the
cause of a plant that makes wire, another that wraps the wire into coils,
and a third that assembles the coils into lamps. If these are organized as
three separate businesses, each optimizing its own performance, the totality
may well not be optimized. Organized as a single unit, however those three
plants can seek the optimum
of opportunities: for instance, making a costlier wire may help to produce a
25 Lessons from Jack Welch
The Challenge for
young venture is organized around a new product or service meetings of
the senior managers focus on problem solving and
and have little or no time for
identifying and exploiting opportunities. To overcome this issue
dedicate one management meeting a month to
looking for opportunities, new ideas,
unexpected successes and
competitive actions. Communicate the long-term benefits of investing
time in these activities to your team members to ensure their willing and
Happiness It's All in Our Own Hands
When you encounter a
problem, try to
look for the good points. Everything has at least one good
point. Even sickness has its positive side. You get some extra rest
or have more time to spend with your family or you use the period of
recuperation as an opportunity to turn to
Assess Your Management of Opportunities...
Turning Failures Into Opportunities...
Turning Knowledge into Opportunities...
Observe Disruptive People...
Evaluating Opportunities: Selected Techniques...
Your Ideas with Others...
Asking Searching Questions...