It Is Time To Re-Assess Your Strategic Assumptions
Review Your Strategic Assumptions
Set aside time to fully re-assess all of the
assumptions you use. This will help you develop
strategies that leverage new opportunities offered
by changing trends impacting your industry. It will
also provide you with new insight to help you better
anticipate the potential impact of these changes and
others you may need to consider.
Stepping back to determine if the critical strategic
assumptions you are using for your decision criteria
will also afford you an opportunity to identify
changes that need to be made before these new or
emerging trends will wreak havoc on your enterprise’s
future financial stability or long-term viability.
The prism used for how you view the external world
creates a bias in how you interpret the information
you receive and how you perceive the potential
impact of this information. As a result, it becomes
easy to minimize the impact of changing external
forces.
This is especially challenging when you are busy
dealing with many the pressures of the responsibilities
of your day job. It is easy to lose sight of the
external environment around you. You assume that
everything is staying the same or will be going back
to normal. But yet, after coming through the intensity
of a period of economic volatility, it is essential to
consider the true impact of those market changes on
your business or organization.
Make sure you have more than just a superficial
understanding of the issues at hand. Review your
strategic assumptions from outside your own
paradigm of perspective so you better can navigate
the complex variables impacting your customers
and their decision-making processes. Ensuring that
your team also has a comprehensive understanding
of the potential impact of complex external forces
that affect your enterprise will help them be better
stewards of your organization’s future.
Leadership Excellence presented by HR.com JULY 2021 23 Submit Your Articles
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