A few weeks ago, I sent out a note to my database (roughly 13k readers) asking if you could share some of your top challenges/risks for 2016.
Here is the synthesis of what I received:
1. Disruptive innovation – Reducing the gap between strategy & execution
- How do you produce new business results in an environment that takes too long to make a decision, has budget constraints and inhibits implementation?
- How to bring “legacy executives” on board with new disruptive technologies and ideas. What NEW tools & methodologies are working?
2. How do you manage the power shift that has disruptive technologies has already begun in your industry & in your company?
3. Management & client indecisiveness!
- How do you produce results when some have been promoted into executive positions without the necessary competencies to inspire innovation? How do you manage the lack of institutional knowledge pertaining to key innovations happening in a company’s core marketplace?
- How do you eliminate guessing or making poor decisions that impact product/customer targeting, value proposition and competitive positioning?
4. How do you fix a broken culture?
5. Digital disruptions: What are the risks & opportunities facing you, your team and your organization?
6. Weak Economy :
- How are you taking advantage of it? Will you go into a new market? Produce a new product? Cut back? Which strategy will work?
7. Organizational Mayhem (thank you Sharon for the great phrase!) – the perils of change management gone wild. How do you:
- induce and motivate change, while preserving risk management, operational effectiveness and engaging not just the “ordained few” but tapping into the full power of your talent pool?
- get mastery in real value creation & prioritize the best and most relevant projects / deliverables in ways that delight and wow customers to create loyalty?
- manage growth expectations in a challenging economy?
Terry Donnelly, former CMO of MDC Partners, provides 7 thoughts and ideas on how to deal with these risks. Let me know if any of his ideas have given you new insights into solutions you can use this year. You can find Terry’s video here: http://bit.ly/1Uo9eR7
ps. We are putting together a tele-sumit entitled: Digital Ideas and Tactics You Can Implement (Cheaper And Faster) Within The Next 90 Days. A framework for overwhelmed executives faced with a weak economy and resource constraints. I would love to see you at the summit!