Knowing when to Change

The key is to always remain flexible: although strategy is about the future, the time to act may be now.

Time is a critical factor in making strategic decisions. When should you make strategic changes, and how is your strategy influenced by the time you have available? The key is to always remain flexible: although strategy is about the future, the time to act may be now.

Many teams and organizations review their strategy only when things are going wrong -- if all's well, why change? This is false logic: in fact, the best time to plan for change is precisely when you morale, time, profits, and momentum on your side. Strategic change might mean making a large investment, relocating a business, merging with a competitor, taking on new staff, or engaging with new markets.

ACTION POINT: Consider change when you have morale, time, profits and momentum on your side.