The more uncertain the world seems to be, the more it is important for companies to become future-ready. In times of crisis, this type of readiness doubles as a source of resilience.
In this month’s newsletter, I’ll reflect on how companies can adapt and on how future-ready companies are also more capable of capturing new growth when normality eventually returns.
From Howard’s desk:
- I am excited to share with you the Harvard Business Review article that reports our future-readiness study of top companies across four sectors.
- Now, you may or may not think the metaverse is the future. But tech giants are all racing ahead. I’ve run a large-scale text analysis to understanding the strategies different companies are deploying.
- Of course, a strategic shift cannot happen overnight. Disney now has Disney+, which is an important arsenal to counteract Netflix. But it takes ten years to prepare. That reminds us that a great strategy in its realization truly has no shortcut.
- And if you try to cut short, you end up in a meltdown. Just look at Facebook’s plunging share price. The easy path to growth is always dangerous.
The worries from the world are unending, which is why it’s most crucial to choose staying light-hearted even for a few hours a day or for a few minutes between tasks. Those precious moments give you clarity, which helps you stay clear on doing what matters the most.
Until next time,
What a great piece Professor Howard Yu! The sentence ”a great strategy in its realization truly has no short cut” is very deep. Many leaders have been wrong with their definition of corporate strategy. I talk about this in one of my books that will be published sometime this year. I divide strategy into four parts in an organization: individual level, team or business level, department level, and board level strategy. All these four elements form a corporate strategy, I believe. The biggest confusion people make is between business and corporate strategy.
Thank you for addressing this important topic, Professor Howard. Unless executives clearly define their corporate strategy, there will always face disruptions and resistance in its implementation.
Jean Narcisse Djaha