The Ostrich and the Giraffe
Our Cheeky Monkey lab has been busy doing research and it is clear that in order to survive the next decade you can’t be an Ostrich and stick your head in the sand its all about the giraffe, standing tall and seeing over everybody else’s heads and embracing the changes you need to make in order to not only survive but to succeed.
We have identified a number of considerations that need to be tackled in your business strategy. Chief Monkey has actually written a book called 99 steps to Business transformation where she lists what these considerations are and what you should do about them. Here are just a few:
- The World economy will remain volatile and chaotic
- Market changes will be fast and unpredictable
- Competition will be Global
- Emphasis will be on the ability to deliver change, not manage it
- Differentiation will win
The first 2 are already proving destructive as the PMI (Manufacturing purchasing managers index) fell to 49 last month which indicates contraction, this is a 26 month low. New export business, new orders and employment all fell.
August also saw the sharpest fall in new orders for the sector. This was a sector that was leading the way in growth and was encouraging the positive signs of economic recovery. However, experts are now talking about a double dip recession and the British Chamber of commerce has reduced its economic growth forecast from 1.9% to just 1.1% this year.
At a Chamber of commerce event 2 years ago I heard a speaker state that any businesses that come out the other side of the recession won’t be the same as they were before, the businesses that are the same won’t exist anymore. I believe this is more true now than ever.
Change is difficult when all is stable so it takes a leap of faith and strong leadership skills to embrace change when all is far from stable but the risk of not making decisions today is the decisions won’t be yours to make tomorrow – so are you an Ostrich or a giraffe?