Albu On Strategy

No Room for Complacency

Are you staying ahead of your competitors, always striving to be better? Are you confident you have a strategy that will take you to a higher level, year after year? Or have you let complacency overwhelm your organization?

Whether you have a thriving business and are experiencing double-digit growth, or are constantly struggling to make your budget, one thing is certain: you cannot stand still. Over time, complacent companies become vulnerable to competition, customer relationships become unpredictable, and valuable resources are wasted on the wrong ideas.

Deploying a process of continuous improvement eliminates complacency. Consider Tiger Woods, one of the greatest golfers ever to play the game. When asked why he changed his golf swing twice, he replied, “Because I want to get better.” His answer was simple, yet meaningful. Tiger understands that the game of golf will continue to change: his competitors are relentless in their efforts to beat him, and the PGA will continue to make golf courses more challenging for everyone. Unless Tiger improves his game, he won’t stay on top.

In business, as in sports, deploying a process of continuous improvement — one that effectively addresses key issues and focuses limited resources on the most promising opportunities — is necessary if you want to continue winning. The key word here is continuous. Do implement a process of best practices that reviews your strategic thinking and strategic plan regularly throughout the year. Don’t wait to review your strategy once a year. Your competitors and customers do not stand still; waiting to take action because it is not on your schedule will not work.

Be like Tiger: never accept that your business cannot be improved. Always strive to be better, stronger, faster, cheaper — whatever it takes to move up to the next level of profitable growth.

Posted in Newsletter, Strategy Execution.