"The key to evolving a successful corporate strategy is to ensure that every decision that is made is based on growth. Every strategic principle must have growth as its fundamental goal, whether that growth comes in the near term, or if it will be a bit further down the road."
By its very own definition, “corporate growth” requires a continuous state of evolution. That evolution is based heavily (but not solely) on assessment and analysis of internal processes―we analyze the practices that have worked in the past, determine why specific practices worked during specific time frames, and draw conclusions as to their efficacy as we move ahead into an evolving business market.
This last process requires us to implement changes to our strategy―putting new and improved plans into action based on our assessment of our business’ past, present, and future states. Stein’s Law succinctly captures the reasons we must move forward, evolving our strategies as the market evolves:
We’ve witnessed this. It’s true. Inoperable process will hamper our future success. But the transitional periods, when the company is growing from one stage to another, is one of the more challenging periods for not only our business, but also our staff. A main challenge in adapting to strategic change is rooted in a deep-seated facet of human psychology: fear of the unknown. But we cannot continue doing what we always did, simply because “that’s the way we’ve always done it.”
- "Are we right about the nature of why Process M is no longer working?"
- "What if we tentatively continued using Process M to see what type of results we see over the next six months?"
- "Are we right in our predictions about the market?"
- "Are we right about taking Avenue X instead of Avenue Y?"
- "I heard that Avenue Z worked out for Company A, and they’re doing OK…maybe we should consider what they’re doing?"
All great arguments, and they should all be brought to the strategy table to be considered. There is no such thing as bringing “too much” to table when it comes to market strategy. The key to evolving a successful corporate strategy is to ensure that every decision that is made is based on growth. Every strategic principle must have growth as its fundamental goal, whether that growth comes in the near term, or if it will be a bit further down the road.
At TSW Service Transformations, taking place October 20–22, 2014 at Las Vegas’ ARIA Resort & Casino, Corporate Growth in the Age of Services is the conference theme, designed with a key goal of helping you strategize, develop, and implement a corporate strategy that will thrive as we move further into the business-for-business (B4B) era. This year, we will focus on both sides of the corporate growth equation―revenue and profits.
We encourage all TSIA members to submit speaker applications based on the Transformation Topics that will be addressed at the conference that include:
- Sales Transformation
- Services Offer Transformation
- Customer Success
- Consumption Analytics
- Services Delivery Transformation
- Product Capabilities
- Services Organization Structure Transformation
Speaker eligibility and rules can be found online. But act now, as our Call for Speakers closes June 13, 2014.
Change is not something to be inherently feared. It's a tremendous opportunity to evolve our business, our people, and our process.
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