Reacting to Events

In reality... the unexpected does happen...

In reality, despite the best intentions to plan for all eventualities, the unexpected does happen and you may need to devise a strategy quickly in reaction to changed circumstances. Without the benefit of time, your options for change are likely to be limited. You need to acknowledge these limits -- how much time you actually have -- and then work backwards to develop strategic options that fit the parameters.

First, quantify the urgency of the situation -- how long do you have to make the change? Next, identify the key issues you face and place them in order of priority. For example, in a small company you may identify that poor teamwork has ultimately led to shortfalls in performance; lower revenues and recent investment in new equipment have left you vulnerable to creditors; and you may even face bankruptcy. In this situation, a two-part strategic plan is necessary -- part one addresses the immediate threat by stemming the losses and improving cash flow, and part two deals with the working practices and personnel issues that caused the problem.

ACTION POINT: Acknowledge limits and quantify urgency when strategically planning for change.