Building And Retooling For Today’s And Tomorrow’s Success
THE BIG IDEA
We can’t go back to the way we were. Instead, we must become a more adaptable, learning organization, competing not only with scale, but also speed. We must rediscover business building—to disrupt the status quo and step confidently from this crisis into a much-changed, new world. [James Allen 2020, What Big Business Idea Will Emerge From The Pandemic?]
This instructive statement, penned by James Allen, speaks to the big idea that has emerged for CEOs from the pandemic crisis. As organizations transition to their new normal, CEOs and business leaders overwhelmingly see an invaluable opportunity to untether themselves from burdensome, legacy systems that delivered efficiency through standardization, routine, and predictability, while suffocating insurgent innovation, agility, speed, and resilience.
A FRESH START TOWARDS BUSINESS BUILDING
In our emerging post-pandemic dawning, companies have been inadvertently afforded a kind of renaissance in business building. They have gotten a lifeline to a fresh start for a new phase of business building, stimulated by the need to respond to:
- Emerging customer needs, expectations, and behaviours
- Demand for new businesses to satisfy these emerging trends
- Evolving and expanding industry boundaries
Equipped with the lessons that they learnt during the pandemic, CEOs and business leaders can build their businesses and create a better normal for their employees, their customers, their shareholders, and their national community.
RECOVERING AND RETOOLING
Firms that balance protecting and running the business today with retooling the business for tomorrow will outrun extinction and thrive after the pandemic.
[Saenz and Dunnigan 2020, Covid-19: Protect, Recover and Retool]
Retooling should be a non-negotiable priority that all businesses must place at the apex of their strategic to-do list, immediately and urgently. Today’s and tomorrow’s success will depend on the retooling that we do today, even while navigating our recovery: The pandemic would have highlighted some major organizational fault lines, which would have shown up incapacitating deficiencies in organizational culture, talent quality and strength, technological development, and supply chain effectiveness. As part of the retooling exercise, leaders should set up an organizational situation room to:
- Examine their company’s unique experience in granular depth in order to understand how their employees and customers experienced the impact of organizational weaknesses.
- Declare the old status quo off limits and erect guardrails to avoid the pitfall of reversion to a former ineffective state of being or inefficient old method of doing things.
- Re-imagine and Retool their organizations based on their pandemic experience and the lessons that are unique to their experience.
Links for additional reading:
What Big Business Idea Will Emerge From The Pandemic?
Preparing Your Business for a Post-Pandemic World
REALIZE THE NEW DIRECTION FOR YOUR COMPANY
We are transitioning to the “next normal” and now it’s time to find our feet and figure out how to get back to some semblance of stability. As Executives and Managers begin the journey of transitioning to a new business rhythm, DRA Consulting is standing ready to support the adjustment process.
Here is just one of the services we offer that can help you chart the way forward. Our “Horizon Mapping Sessions” for Managers, Executives and Boards of Directors help you envision the future and make important decisions for the sustainability of your company.
We have done several of these for many reputable companies across the country. To find out if this service can benefit you,
Email us at : firstname.lastname@example.org
Call us at 622-6762