The business landscape has undergone a magnitude eight earthquake shake-up as a result of the COVID pandemic. Business strategy and COVID are now inextricably linked terms and should forever change how leaders craft their business strategy. The statement should hold regardless of the venture size.
I recall the days in my college and university classrooms lecturing of creative destruction as coined by Schumpeter. The concept seemed abstract to the students, but now we are experiencing creative destruction in our lifetime – a compelling case study, I must say. Schumpeter advanced that for countries to develop, the leaders must embrace that new industries will displace the old – just as the horse and buggy are no more, as the creativity of the automobile invention replaced it as the new mode of transportation.
The “new normal” appeals for the Schumpeter model to be implemented by leaders and entrepreneurs everywhere in all sectors and areas of government. Business strategy and COVID cannot be unlinked. The economies that survive and the businesses that thrive will be those with the leaders who understand the old business strategies must be destroyed. Business strategy must be re-imagined for a permanently changed marketplace.
The new marketplace will require those crafting business strategy in these COVID times to rethink their purpose, have agility of thought, creativity, invention, and innovation (they are not synonymous), and embrace creative destruction. How will you redesign your business strategy not that the world has changed? Will you be disrupted and destroyed or will you be the disruptor and thrive?
Our Strategy Sessions are designed for existing business owners who are seeking to incorporate the pillars of enterprise in their small ventures. We will co-create a framework including your mission/impact statements, critical success factors, and create a strategic plan with you. We will work together in 3, two-hour sessions over two months and of course specific action steps and an overall professionalization of your venture. The time frame is designed to compel action while providing opportunity for reflection, research, and revisions. All sessions are virtual.