The world is changing all the time and we don’t work in isolation – we work with suppliers and customers, partners and competitors, laws and regulations making up our business environment.
Changes that affect the environment will affect us – and will have an effect on us.
We have to be alert to the changes as in every business there’s a need to adapt and adjust to the new circumstances.
Ignoring those changes, as many business leaders seem to try to do, is just storing up problems for the future. That’s pretty obvious if you think of laws and regulation where failure to adapt to the changes is likely to lead to a fine or even imprisonment for those who fail to comply.
We have all heard that ignorance of the law is no defence so we keep watch on those changes, but do you watch for other changes in the environment?
If there’s a change in your supply chain, are you ready to respond? Do you have multiple sources of supply for key items?
Whatever business you are in, technology is affecting it. Recently I was helping a membership organisation where they had failed to adjust their membership processes. A few years ago, we would expect to submit an application to join a society through snail mail and then wait a week or so for the membership pack to arrive, but now we expect to apply online and receive immediate membership. The membership organisation had not adapted their methods and membership applications were described as “laborious”
If your competitor is introducing a new product, are you ready to react and provide even better service to your customer? Are you watching the market, or better yet leading the market!
There’s a book by Marshall Goldsmith – What got you here won’t get you there – and applying just the title to your business thinking will help you move to an adaptive state.