Take a hard look at how decisions are made in your business. Do things flow to the top or are decisions made at the lowest possible level? Does your organizational structure encourage folks to make the appropriate decisions, or do they feel stymied? We’ve all been in meetings where after discussion, a decision wasn’t made because there wasn’t unanimous consent. As a famous president once said, there was no “decider-maker” in the room. How can these situations either help or impede whether a company is built for speed?
Through my discussions with business owners, they say that business conditions continue to change. While difficult to articulate exactly what they see and feel, they acknowledge that it’s not the same. I see it as the business mix is changing, and the product and service portfolio they are producing has shifted. Some owners view it as just taking advantage of market opportunities. Agreed, but what happens when the shift leaves expensive equipment and staff with less work than before? You’ve got to ask whether the outcome was based on a decision made proactively, or did it just happen.
Taking advantage of market opportunities is table stakes for any business. But so is intentionally seeking market opportunities where you can excel in. And, capitalizing on the capabilities that you have may become more difficult as the business mix changes. There is a fork in the road, one of these is reactive, and one is proactive. You can choose either, or even both tracks. Market leaders that I’ve seen typically vote for both and run a parallel model to take advantage of both types of opportunities.
Making decisions that enable your business to take advantage of both reactive and proactive opportunities is a key ingredient to becoming agile and built for speed. Not deciding either way can impede your progress and forego business opportunities in this transformative time. Having the right folks on the team, that are aligned with your vision and can play their position helps firms to leverage their strengths and pull away from the competition.
Mike Philie can help validate what’s working and what may need to change in your business. Changing the trajectory of a business is difficult to do while simultaneously operating the core competencies. Mike provides strategy and insight to owners and CEOs in the Graphic Communications Industry by providing direct and realistic advice, not being afraid to voice the unpopular opinion and helping leaders navigate change through a common sense and practical approach. Learn more at www.philiegroup.com, LinkedIn or email at firstname.lastname@example.org.
Originally published in Printing Impressions.