Change is imminent! How does that factor into your strategy?
In a rapidly changing world, consumer tastes and preferences can change in a blink of an eye and so can the entire landscape of an industry. So if your customer and climate doesn’t stand still, how can you as an organization afford to?
The past 5 to 10 years are a clear indication that even industry leaders can be left behind if they don’t continue to innovate and stay on top of the changing tastes and preferences.
Organizations are very diligent during their growth phase but as they begin to reap the rewards of their success, they also risk plateauing. It is during this time it is important to ask yourself as a leader, what’s next? What are the competitors doing and is my customer satisfied? Are my people evolving with the organization?
Recently I visited a major city in the US and like many seeking a cab from an airport, I was ushered in front of a number where a cab pulls up and you are on your merry way.
During this ride, no conversation and not even a smile, the cab pulled up in front of the hotel, I swiped my visa and proceeded to check in. Apparently it’s customary in many parts of the US to tip a cab driver, which I wasn’t aware of. Simple oversight, however this cab driver didn’t seem too pleased and even went further to say he didn’t have to pick me up.
Although I was planning to correct my oversight, I chose not to after that comment and just walked away. Like many service providing industries, in this case, pick up from point A and drop off at point B, if the experience is exceptional, I can completely understand why a tip is warranted, however it should never be an expectation.
Having tried an alternate ride sharing service on the same trip, I definitely understood why many preferred this mode of transportation as opposed to a cab. It was a different and an extremely positive experience and clearly evident that ride sharing is here to stay.
My journey home left me wondering how the leaders of these cab companies are coping with their new competitors, influence of technology and more importantly helping their people navigate through these changing times. Once in demand, cab drivers now have to fight for their customer and like many service based industries, the impact to them is not only financial but emotional. Not only do they have to cope with the changing landscape, but also deal with their customer’s emotions. This can certainly be a huge risk to them personally but also to the organization as a whole.
Change is not easy for anyone regardless of age but adapting to it can become less stressful if the right support system is in place. Some muddle their way through and others either get left behind or move on to other things. It is up to you to utilize the transition as an opportunity to evaluate your strategy and operations to ensure you are positioned for growth in this constantly changing landscape.
How do you stay on top of the strategic aspect of your organization and simultaneously evaluate the impact on your people, processes and technology?