One of the hardest tasks for an organization to accomplish is the identification of its core strengths.
Companies tend to be egoic–championing every accomplishment without regard to consistency in achievement.
Real and tangible progress occurs when the strategic minds of the organization come together to ask questions like:
What business are we in?
What sets us apart from the competition?
What do we possess that others would be hard pressed to replicate?
If our largest customer were to leave tomorrow, could we survive?
Where are our blindspots?
The idea in asking these fundamental questions is to whittle the elements of the business down to the simplest moving parts. These are the gears that churn out innovation and they are most critical to the functioning of the organization.
There are many ways to approach this exercise, but the best methods utilize open-ended questions, a diverse group of thinkers, honesty without reprimand, and accountability to the results.
The benefits gained are numerous.
1. Re-allocation of valuable resources in the direction of those areas with highest ROI.
2. A better sense of purpose and direction with new vision for the future.
3. Realization of new markets and customers (in chop shops, we call this selling the car for parts).
4. Establishment of a true “niche” with calculated, consistent successes and achievements.
5. Extended shelf life by removing barriers to innovation and avoiding or delaying substitution.
6. Identification and protection of intellectual and human capital central to organizational success.
7. Ability to compete more effectively (when you know who you are, you better understand who is your competition).
Companies that operate “in the zone” do so by undertaking tremendous, calculated risk. They properly assess their strengths and weaknesses, identify their core, realign their business to function within that core, educate, equip and empower their employees to function successfully within that core, and then step out with their best foot forward.
I have read of companies reporting upwards of 20 to 40% increases in profitability as a result of such a process. But it is, indeed, a process. One which requires full commitment to the results. Sadly, many companies are unwilling to set ego aside to face hard truths until the market contracts upon them, forcing such an action. By that time, the change is painful and the trust of the employees is difficult to regain.
Get “in the zone” while there is still time for your organization to maintain influence over the vision, direction, and message of change.
