Understanding which factors present the greatest risk
Beginning to adapt talent strategies to mitigate these risks
Once upon a time … actually, many times (this story gets told often), an organization desperately wanted to grow a part of its business, but it could never crack the code in the market.
And in this particular market, time was running out.
The groundwork was complete. The team was assembled. The market looked great, and the slow growth the organization had experienced in the past was finally seen in the rear-view mirror. The leaders congratulated each other, confident that a year later their company would be in a much different and better place.
What those leaders didn't know was that in a land far, far away (or right down the street), a different group of people was launching a new technology that would alter the way their product was received, or a different group was establishing new social norms that would change the demand for their product, or a different group was debating new government policy that would change customers’ ability to access the product.
These changes would necessitate changes in business strategy, which, if implemented soon enough, would allow the organization to continue to grow amid these shifts.
But our heroes in this story didn't know these changes were coming.
They just kept coming to work every day and talking to each other about how to execute their strategy, not realizing until it was too late that it was getting harder every day. And so, the organization - let's call it Blockbuster Circuits R Us, stopped growing and eventually ceased to exist at all.