The imperative for creating a unique strategic position
It is incredible to think of Marks and Spencer, a company that had enjoyed a long history of growth and profitability, until the late 90s, slipping into decline.
Needless to say, the middle of a crisis is the worst time to implement strategies for turnaround – let alone planned growth. For at such periods a business lacks time, but also resources, experience and credibility to develop a new path of long term success.
It’s often said that; ‘an ounce of prevention is worth a pound of cure’. Few managers would disagree with the truth of this principle… but few actually abide by it.
The consequences of maintaining the status quo
Most business owners and managers’ start thinking about change when profits are already in decline – and worse still only start doing anything about it when things get worse!!! This has dire consequences because these companies leave yawning gaps for strategic innovators to fill simply because they fail to actively seek new positions from which to offer their customers more value.
It’s surely much more prudent to introduce new flows of cash and profit with fresh strategic positions and more exciting technologies – when in growth – before maturity hits!
I’ll tell you in my next post
Best wishes
Andrew
