Strategic success happens when you’re the first to profitably exploit a change in your external environment. Innocent Drinks, for example, succeeded because they were the first to find a customer-focused, commercial solution to our increasing desire for natural, healthy drink products.
Elsewhere, Sony’s amazing success with the Walkman in the 1980s was a result of the company creating the first product to bring stylish, private portability to music; something we now take for granted. The company found and exploited a gap that had been created by technology and lifestyle changes that their rivals had failed to find.
In Chapter 15 of my e-book, How To Be A Strategic Leader, I share five principles that will help you take more action to drive the success of your business strategy.
Principle #2 is to focus on your speed of learning. The most successful organisations are those that learn and adapt the quickest. Rapid learning requires that you push down accountability for performance throughout the organisation, enabling your people to take ownership and set clear performance standards. That way, your teams can implement and refine their new activities at pace without having to come back up through the layers of management for approvals and advice.
© Stuart Cross 2020. All rights reserved.