Business strategy models are changing
Categories: Business Strategy
, New World of Work
Business strategy models need to be looked at in a different way. Dean Van Leeuwen
has six key questions your business needs to ask.
Business strategy models during turbulent times
I think it’s… it’s not about throwing the… the baby out of the bathwater. There… there are a number of things that are important that will still work. Most of the things that have worked in the past… Well, there’s two aspects to this.
And just because you’ve succeeded in the… in the past doing something in a particular way it doesn’t mean that you’re going to succeed going into the future.
I think Peter Drucker said the danger during times of turbulences is not the… the turbulence itself, it’s acting with yesterday’s logic.
So I think the surest way to fail in the world that is changing is just to continue doing the same things over and over again because they seem to work in the past. What we need to recognise is that the rules for success are changing.
And when the rules of success have changed we need to change as well.
So Jack Welch said that if the pace of change outside is faster than the pace of change inside you’re going to become a dinosaur. So what do need to be doing to be successful? And I think there are six or seven things that business leaders really need to be looking at differently.
Kind of let’s call them six new competencies for your… your business. Leaders need to be asking questions and analysing storytelling. What’s the story the… the business is telling? What’s the higher calling? What’s the quest?
How do you collaborate? How do you build collaborative communities within your business and… and the communities that are important to you? What does risk and reward mean for your organisation because those are changing dramatically?
Innovation, intelligence are… are two important aspects.
People, both people inside your business and… and outside your business, especially with shifting and changing generations.
So those are… are key things. And how do you build passionate tribes of… of people? And then trust and transparency are… are really important. And I think those kind of six core areas or focus areas that businesses need to be analysing, questioning and understanding the impact for their business and how they can build competitive advantage around that.
And once they start getting those six competencies… together, we find that then strategic intuition improves and you can actually start delivering strategy at speed.
We will continue to discuss business strategy models on Connected Economy TV
where you can also hear more from Dean Van Leeuwen