Are You Ready to Compete?
The coronavirus outbreak is first and foremost a human tragedy. We are entering an era of risk and unreliability. No wonder you have a sense of unease. When the environment is so unpredictable, how can we apply the traditional forecasting and analysis? You need to create an organization that is capable of rapid adaption.
Blog Author – Background
- Diligent executive project manager offering a proven record of success leading all phases of diverse technology projects; business transformation leader with more than 25 years of project management experience and as a financial executive, leading to being Assistant Deputy Commissioner of the City of Boston.
- As a business strategist, planned and managed multimillion-dollar projects aligning business goals with technology solutions to drive process improvements, competitive advantage, and bottom-line gains; Collaborated with multiple customer entities to conceptualize and implement innovative manufacturing processes, cost-saving supplier metrics, and digital enablement road-maps.
- An influential visionary with empowering and motivational leadership style that brings out the best in all project participants, both internal and client staffs; creates alliances in efforts to achieve business goals, and quickly turns negative financials into positives.
My LinkedIn profile is at https://www.linkedin.com/in/bjmartinez/.
How do you adapt?
This famous quote sums up our challenge: “You must compete at the speed of adaptability and adapt at the speed of learning.”
- Reading and Acting
- In order to adapt, you have your antenna tuned to signals of change from the external environment, decode them, and quickly act to refine or reinvent your business model and even reshape your information landscape.
- Additionally, you similarly will rely on sophisticated point-of-sale systems to ensure that those systems acquire the right information.
- Are you applying advanced data-mining technologies to recognize relevant patterns in your data?
- Virtual Environments
- You no longer have the luxury of time-consuming development approaches. By using virtual environments to generate, test, and replicate innovative ideas you will produce new products/services, at lower costs, and less risk than your rivals can.
- In this chaotic environment, business models, strategies, and routines can also become obsolete.
- Experimentation produces failure. Evaluating and celebrating what was learned and is effective, needs to become norm.
- You will be communicating, selecting, duplicating, and refining your successes throughout your organization.
- Do you encourage knowledge flow, diversity, autonomy, risk taking, and flexibility between your teams?
- What are the new players in your industry doing?
- This is the time historically when the disruptors can take advantage of the wiliness to try new products/services. Offering modified products /services that reach your customers where they are and with less delays is what is being expected. How are you rising to the challenge?
#accucompvirtual CFO Team – available 24/7 and on-demand
The speed of adaptation is a function of your cycle time of decision making. In an unstable environment, you need to accelerate change by making annual planning processes into episodic processes continually being reviewed.
The adaptive approach is no universal panacea. Today, your competitive reality is uncertain and rapidly changing. You need a dynamic and sustainable way to stay ahead. Your survival may depend on building an organization that can exploit an adaptive advantage.
AccuComp Enterprises is ready to advise and collaborate today with those who wish to begin the adaptive process now. Contact us at firstname.lastname@example.org.
We are all in this together.