Member Rob Stump Speaks: Falling Behind? Disrupt Back!
The Challenge:
The case at hand was brought by the CEO of a company that had been disrupted by some major players in his space. He was finding it more difficult than ever to communicate his company’s true value and beat back the competition.
If you were in this situation, what would you do?
You have built a powerful company and, though disruption is pressuring your business at the moment, I believe through concerted action you can retain your edge. If I were in your shoes, I’d begin by taking an honest look at the company. Many successful companies keep their heads down, focused on whatever has worked in the past. But, by keeping our heads down, we lose sight of the horizon, and the need to innovate. Is that happening? Does the company have a robust and authentic culture of innovation already in place? If the answer is no, then it is likely time to bring in some outside help.
I am not the kind of executive who believes consultants are a panacea. However, if you find yourself behind on the innovation curve, attacked by savvy disrupters and without a strong internal culture of innovation, then it is time for some outside help. Get an individual or organization that can come in fresh and ask hard questions that will drive new insights and strategies. I recommend that this exercise is personally handled by the CEO in order to signal to the entire company that change is on the horizon. Build innovation into your corporate DNA and disrupt back either through new technology or innovative methodology. In case you’re wondering why I have such clear ideas on this matter, I will tell you: I’ve been in your exact position before. Innovate or die. I am sure with the right combination of outside help and executive resolve, you will prevail.
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