Surviving and Thriving in the Global Marketplace

Abstract

For any entity to thrive, it must constantly reassess its ideas and positions. And if your customers are constantly evolving, expecting better results faster and reassessing their needs and values — shouldn’t your firm?

Report

The Need for Effective Response to Change

Innovation and the marketplace of ideas constantly evolve. What was once considered novel or progressive eventually becomes mainstream, or is relegated to the past. For any entity to thrive, it must constantly reassess its ideas and positions. And if your customers are constantly evolving, expecting better results faster and reassessing their needs and values—shouldn’t your firm?


Though executives often talk about speed and agility in their business processes, major programs and IT projects don’t mirror that philosophy. Organizations lock into long investment projects that shift attention away from the dynamics of the business—causing them to miss out on valuable new market opportunities as well as innovative technologies that could improve their market position.

Many companies will willingly spend $1 million with McKinsey or similar firms to plan their long-term strategy. They develop elaborate strategic planning processes, make investments in plant automation, and develop long-term strategic sourcing relationships. Yet despite these significant investments intechnologies and business services for the long-term viability of the company, “managing in the now” remains one of the least automated aspects of focus.


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