3 YEARS OUT BLOG

Kevin Dawkins' ideas, thoughts, insights on the process of transformational business development

Sage advice from Jack Welch

Wednesday, October 17, 2012

We love the philosophy of former GE CEO Jack Welch; "when the rate of change outside your organisation is faster than the rate of change inside your organisation - then you have a problem"

Fact. Our world is changing faster every day.

It is becoming more connected, networked, leveraged, customised, 'social', personalised and instant. There are greater choices, competition (direct and indirect), stimulation, noise and more possibilities. Gaining the attention of customers is harder, and servicing their needs more complex.  Brands are becoming more powerful, the brand landscape more complex, and customer churn can happen in a heart beat.

Some companies are becoming successful faster than ever, in some cases creating millionaires overnight.  Predictably, those that aren’t reacting to the changing world are becoming irrelevant at an alarming rate.

And so whilst most in business accept that change is inevitable, we subscribe to the approach that “growth” is intentional.

Which leads to a critical question that every business owner should be asking themselves. How do you intend responding to our rapidly changing world and business environment?

The way we see it there are only two choices (well, just one really). You can become a victim of change. Or you can use this unique moment in time as a powerful motivator and catalyst to innovate, invigorate and transform your businesses.

Our world is changing faster than ever before and more dramatically than most people know and understand – it is time to wake up and innovate!