Post by account_disabled on Dec 19, 2023 7:29:58 GMT -2
Threats and opportunities. David Teece, Paul Raspin and David Cox Year Month Day Read Time: Minutes Topics Strategy Leading Change Business Model Growth Strategy Subscribe Permissions & Share What to Read Next Are ubiquitous stores the new face of retail? Opportunities Hidden in Paradoxes Good Questions Elisabeth Heichler Addressing Climate Change with Artificial Intelligence Image provided To remain competitive over the long term, companies must be able to respond quickly to significant changes in society, technology, competition, regulation, labor markets, and countless other areas. . However, the potential for such changes creates significant uncertainty, making it challenging to determine the most profitable path forward. While organizations can never fully prepare for unexpected shocks.
The most resilient organizations learn to anticipate the unexpected, bounce back quickly when the unexpected occurs, and take advantage of unexpected opportunities as they arise. To help with these efforts, we have developed a framework that goes beyond traditional forecasting and risk Job Function Email List assessment activities. It consists of four sets of activities: First, develop a comprehensive process to proactively sense new insights that may impact the business, whether internal or external, to identify threats or opportunities as early as possible.
Second, the organization responds to these threats or opportunities; this may involve reallocating resources, improving processes, filling capability gaps, and Third, capture value by modifying the business model and restructuring relationships with other actors in each ecosystem. Fourth, renew the organizational capabilities needed to create and capture value by continuously monitoring and evaluating results and making small adjustments over time, while also preparing for future developments.
The most resilient organizations learn to anticipate the unexpected, bounce back quickly when the unexpected occurs, and take advantage of unexpected opportunities as they arise. To help with these efforts, we have developed a framework that goes beyond traditional forecasting and risk Job Function Email List assessment activities. It consists of four sets of activities: First, develop a comprehensive process to proactively sense new insights that may impact the business, whether internal or external, to identify threats or opportunities as early as possible.
Second, the organization responds to these threats or opportunities; this may involve reallocating resources, improving processes, filling capability gaps, and Third, capture value by modifying the business model and restructuring relationships with other actors in each ecosystem. Fourth, renew the organizational capabilities needed to create and capture value by continuously monitoring and evaluating results and making small adjustments over time, while also preparing for future developments.