Time to take the leap
As the initial shock of Brexit, political turmoil and warnings of economic doom begin to settle down, it is clearly time for organisations to consider those strategies that will best serve them in the new age. While we can be certain that what made organisations successful 10 or 15 years ago are no longer going to have the same effect, nevertheless organisations need to take stock of the current situation and define where the opportunities arise in these new, uncertain but exciting corporate, political and economic times.
Although the landscape looks confused and organisations are having to cope with the myriad of uncertainties, this is, paradoxically, an opportunity for companies to be brave and to start to take risks.
One of the issues is that the vast majority of people in leadership positions have not been in such positions other than in what we are now having to regard as the “new normal”. They have less experience of managing in a risk taking, or entrepreneurial, environment but have rather been browbeaten by caution and the concerns of regulation and reputation.
Now is the time for leaders to break out of that straightjacket to seize the opportunities that arise in this new world. Waiting to see “how the chips fall” will allow others to steal a march. Without betting the ranch, leaders will be able to push for growth, take risks and adjust and adapt their strategy for the next few years.
However, they first need to recognise that this is a time for boldness, not for caution.
Although it is a scary thought, those who move quickest are most likely to be the most successful. Looking back at the type of strategic risks that companies took in the 1990s and early 2000 will give the leaders of today a clue to some of the things that could be done.