Summary

The provided content outlines a strategic approach to facing business change by identifying key technologies, assessing startups as potential threats or allies, and formulating proactive responses.

Abstract

The article emphasizes the importance of acknowledging and preparing for constant change in business, particularly in the context of technology and business models. It introduces a six-question guide designed to help businesses analyze and respond to potential disruptions over the next three to five years. The guide prompts companies to identify the most disruptive technologies, plan for leveraging these technologies, recognize threatening startups, develop strategies to mitigate such threats, align with startups that complement their strategy, and consider partnerships or the creation of similar products or services. The author advocates for regular landscape scanning to detect and evaluate potential impacts, with the aim of either capitalizing on opportunities or minimizing negative effects. The article concludes by stressing the necessity of addressing change and suggests that taking action now will be beneficial in the future.

Opinions

Change is recognized as a constant in business, yet it is often overlooked in strategic planning.
There is a need for businesses to constantly monitor the business landscape for emerging technologies, companies, and business models.
Companies should not only identify potential threats but also recognize opportunities for growth and innovation.
The guide suggests a proactive rather than reactive stance towards change, advocating for the development of strategic plans to leverage disruptive technologies.
The author implies that survival in a rapidly changing business environment requires vigilance and adaptability, echoing Andy Grove's sentiment that a degree of paranoia can be beneficial.
Startups are seen as both potential threats and allies, depending on their alignment with a company's strategic interests.
The article promotes the idea that businesses should be agile in forming partnerships or developing new products or services in response to change.
The author encourages immediate action, suggesting that delaying could lead to future regrets.

A 6 question guide to face change in 2022

“A year from now, you’ll wish you had started today.” Karen Lamb

That change is the only constant in business (and in life) is something we all know.

However, it’s also one of those things we don’t necessarily take into account when mapping out our business strategies.

We are aware that the technology and business landscape is moving at great speed, but we act as if everything is more or less stable in our companies.

Without going as far as Andy Grove’s maxim (“only the paranoid survive”), it is clear that there is much to be gained by constantly scanning the business landscape to:

a. detect those technologies, companies, or business models that may affect us,

b. decide whether this effect can be positive or negative, and

c. define actions to take advantage of them or limit the damage they can do to us.

The point is: how to do it?

This six-question guide can help you with that.

The simplest and shortest guide to cope with change

Whenever we want to undertake a complex task that requires analysis and decision making, we can benefit from following a guide, a checklist that orders the way we analyze and address each of the relevant points and helps us ensure that we have considered all the essential factors.

The six questions point to three main points: technologies that may affect you, new companies that may threaten you, and others that could be your allies or source of inspiration.

Examination of these points is followed by a reflection that sets you in motion: how can I use this to my advantage?

Here they are:

1- What technologies will be most disruptive in your business in the next three to five years?

2- Do you have a plan to leverage them instead of them becoming a threat?

3- Which startups are or could be a threat to your company? Do you know them?

4- Do you have a strategy to reduce that threat?

5- Which startups are aligned with your company’s strategy?

6- Could you partner with any of them or, on the contrary, would it be convenient to create and launch a product or service similar to any of them?

This type of analysis and defining our best possible response is the best way to deal with change.

It’s not that hard to do, but what you can’t do is ignore it.

Next year you will wish you had started today.