Keeping Alert

In fact, no matter how solid your strategy, you must always be on the alert to make changes.

Strategy must adapt to new realities and to new forecasts: but exactly when should you make changes to your strategy? Should you do this at fixed, regular intervals or just when you deem it necessary?

In fact, no matter how solid your strategy, you must always be on the alert to make changes. Even if your strategy does not include seeking first-mover advantage, you must never be the last to realize that the world has changed while you have stood still.

The signals for change come from all around and are always out there -- within your organization, the actions of your customers and competitors and changes in the market, and the macroeconomic climate. Make sure that you and your team have a good knowledge of these indicators for change, and encourage your team to always be on the lookout for potential warning signs and any other changes to your business environment. Put in place mechanisms by which information about these signals can be captured, communicated, and discussed.

ACTION POINT: Know the indicators for change and build that mindset into your team.