Uncertainty is Certain: how resilient is your Strategy…?

Uncertainty is like the unwelcome guest at a party, who comes uninvited, shouts for attention, and creates a ruckus leaving you and the guests in a topsy-turvy situation.

But whether it is a party or a boardroom, there are always ways and means to curb uncertainty if not keep it out, as a conscious leader.

Strategy is a continued process and not just a monthly meeting

Imagine you’re on a three-month long road trip in the summer. You pack your favourite summer clothes and beachwear, but the weather forecast in some of your destinations is not promising with occasional showers and thunderstorms.

What do you do in that scenario?

You'd most likely pack according to the weather forecast and enjoy a well-deserved holiday and adventure.

Speaking of adventure, we all carry a Swiss Knife for any uncertainty in our journey. Business is a similar journey, where every day is a new adventure.

And strategic planning is like a Swiss knife - it enables us to tackle challenges such as economic downturns, sudden competition with innovative products, or periods of layoffs. By developing strategies beforehand, one avoids being caught off-guard when the unexpected occurs.

The USP of UPS ?

Back in the 1990s, 美国联合包裹服务 saw the potential for the Internet to revolutionise shopping and made a strategic decision to invest heavily in its logistics network. This included expanding their sorting facilities, developing new delivery technologies, and forging partnerships with major online retailers, which made them the market leader in the e-commerce boom. The company never looked back thereafter, as its foresight and strategic planning were spot on, while other businesses couldn’t seize the opportunity.?

Don’t put your eggs in one basket unless you lay golden eggs

The secret sauce of all great companies has been diversification. Is 苹果 a computer company, no it is a tech and digital company, which created an ecosystem to sync all its devices for users at one go. It is the most valued company on the planet today because of creating an entrepreneurial mindset of creating products and solutions that don’t just look cool but also are industry-leading with many firsts. Another great case in point is Virgin . Richard Branson 's business empire spans airlines, music, mobile phones, space travel – you name it. By diversifying across different industries, Virgin has been able to do risk management and find new growth opportunities.

Same applies for 华特迪士尼公司 . They're not just theme parks anymore. They have movies, TV shows, merchandise, cruise lines – a whole empire built on diversification. So, when the pandemic forced theme park closures, Disney still had other revenue streams to rely on.

But wait!

You say, "Diversification is expensive and exploring new ideas is boring."

Think again!

Remember 黑莓 ?

The blackout of 黑莓

During the height of Apple's smartphone craze, 黑莓 phones were the market leader. It is a classic example of how the adaptability to failure changing market scenarios or the competition can put you out of business. And that’s exactly what happened to Blackberry.?

Save for the rainy day

Having experienced the havoc of Covid-19 pandemic first hand, the 365-day process to review business strategy has become even more relevant. Solid financial crisis management and its regular review is the key to weather the storm and keep the business up and running. 2008 global economic downturn was primarily because of financial indiscipline.

Summing Up….

As a Consciouspreneur? , I believe that strategy is a continuous process and not just a monthly or quarterly activity. This approach has helped me and my team in becoming a better strategic thinker with wholistic thinking in building resilience.

What’s your take…?

#BusinessStrategy #Resilience #LeadershipDevelopment #Consciouspreneur #StrategicThinking #UncertaintyManagement #CrisisManagement #BusinessResilience #Diversification #Entrepreneurship #FutureOfBusiness #Adaptability #SustainableGrowth #InnovativeLeadership #ContinuousImprovement