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Playing It Safe is Risky Business
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Taking the ‘safe’ route when crafting strategy can create unforeseen and undesirable outcomes. While it may seem intuitive to take advantage of emerging opportunities while avoiding risks, it may ‘cost’ much more to a company’s vitality and health.
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The status quo is a powerful and often unseen force within the daily rhythms of business. It shapes not only the work that gets done on a day-to-day basis but influences the choices leaders make in setting future direction.
During a recent company planning session attended by executives and board members, I watched as the bias to the tried-and-true overwhelmed some truly creative, if somewhat riskier, approaches to longer-term strategic direction. When several board members raised legitimate concerns about ever-expanding but disjointed product portfolio, they were met with stiff resistance from senior leaders on both sides of the table.
Rather than double down on some unique and potentially highly lucrative niche opportunities, the long-term pattern of.... (cont'd) |
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Around The Web: Noteworthy News & Research
Sharpen Your Strategy Document
Strategy documents have become the pack mules of the business world. Like mules, which can carry cargo equaling about a quarter of their body weight, these documents are often tasked with taking on super-heavy loads that risk being toppled due to their excessive verbosity and length. A solution is to clarify what is and isn’t going to change, which helps ease the pressure of putting everything in one document.
Professional growth can get stymied for all sorts of reasons, but one of the most important is rarely discussed: You’re contending with ghosts from your past. Early in life, family dynamics give rise to many fundamental behaviors and attitudes toward authority, mastery and identity. To achieve your greatest potential as a senior leader, you need to recognize your own “family ghosts,” understand how they influence your behavior at work, and decide which ones to celebrate and which ones to leave behind.
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300 - 1095 McKenzie Avenue
Victoria, BC, Canada V8P 2L5
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