Change is inevitable but it doesn't always have to be a surprise. When we become comfortable in our position (industry structure, market leadership, etc), we open the door for change to catch us by surprise. How do you keep your eye's open? By scanning the areas of possible change …. and planning for the unlikely. Taking the steps to plan for change is something we should all do.
Plan For Change
- Long range changes in growth
- Changes in buyer segments served
- Buyer learning
- Reduction of uncertainty
- Diffusion of proprietary knowledge
- Accumulation of experience
- Expansion (or contraction) in scale
- The product, marketing and/or process innovation
- Structural changes in adjacent industries
- Government policy changes
- Entries and exits
If you want to explore and plan for change:
- For each of the areas of change, list the extreme case if the change became a reality – both positive and negative.
- From that list, determine the impact on your business/career.
- Then develop strategies/responses that will optimize the benefit and/or minimize the negative impact
You may not be ready for every possible outcome .. but you will be better prepared when change happens …
The question for you: Are there other areas of change that should be added to the list?
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