Thinkers of Think - December 2022
Here's what happened in December:
How Innovation Changes in a Recession
If you were to do a word association exercise with business leaders and you tossed out the word “recession,” you’d probably hear terms like “belt-tightening,” “circle the wagons” and “hunker down” in response. Challenging economic times call for cutting fat in order to survive, and a frequent victim of that reality is innovation. Who has the time or funding to dream up and test new ideas in an uncertain economy?
Innovation changes in a recession, to be sure. But it shouldn’t go away completely. It may need to be refocused or redirected, but there are opportunities to thrive.
We can all agree that Airbnb and Uber disrupted their respective industries. You might not recall, however, that Airbnb launched in 2008 and Uber in 2009, at the height of the last major economic downturn. Both models obviously appealed to consumers looking to save money, making them even more attractive in a recession.
CEOs You Should Know: Tony Gruebl, CEO of Think Consulting
Tony Gruebl is founder and CEO of Think Systems Inc., a Baltimore-based national?management consulting firm that provides post-merger integration, operations and technology transformation, and program execution adapted to mid-market companies.
Gruebl founded Think in February 2004 and today the firm has 120 employees with offices in Baltimore and Boca Raton, Fla. In 2020, Think purchased Ventrue LLC, a?Naples, Fla.-based shared services company opening new markets across the country.
Why You Should Plan Your Post-Merger Intergration
If only mergers were as simple as the paperwork that unites the two organizations. A deal is struck between Company A and Company B, everyone signs off, and the new Company C launches and dominates its market.
But of course, it’s not that easy.?Harvard Business Review?reports that between 70% and 90% of all mergers fail, and they fail after all the smiles and handshakes, in the post-merger integration phase. Why? Usually, it’s due to inadequate planning of the post-merger process, and “process” is the important word there. Depending upon their size and complexity, it may take between one and two years to fully integrate the two entities.
Combining two organizations into one is a process that will benefit greatly from outside help, a classic example of “you don’t know what you don’t know.” An independent consulting team that has lived through successful – and unsuccessful – mergers can help you avoid many of the common potholes. Having said that, here’s a look at some best practices, and some things to avoid.
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Think Hires Ryan Harris as Vice President of Client Success to Support Ongoing Growth
Think Systems? Inc.,?a?national management consulting firm that helps both the private and public sectors with organizational and human capital solutions, announced today that it has named Ryan Harris Vice President of Client Success, Senior Management Consultant.
Mr. Harris brings 15 years of progressive people operations and human resources leadership experience in rapid-growth and startup environments and will serve as an advocate for all Think’s clients at a high level in his new role. He will report to Joe Poling, Think’s President of Commercial Services.
“Ryan will use a tailored approach that holds the company accountable to ensure the best service possible,” Poling said. “He will identify gaps and holes that need to be filled to guarantee we deliver optimal value to clients.”
Think's INNOVATE Conference Arms Mid-Atlantic Business Leaders to Capitalize on Change
The rate of change continues to accelerate creating new challenges and opportunities for businesses, according to technology and innovation experts presenting at Think’s inaugural Innovate 2022, a two-day conference held last month outside of Baltimore that convened nearly 200 business leaders from the Mid-Atlantic region.
Throughout the event, speakers and panelists repeatedly stressed that to ensure future success, businesses must be agile to adapt technology, business practices, and business models that capitalize on emerging trends. Leaders and their teams must not be averse to change but instead embrace it. This can be difficult, but the alternative is likely becoming irrelevant.
Wishing you a season of joy and continued success in the New Year! ??????