Adaptability in a changing environment
Authors Jagdish Sheth and Rajendra Sisodia of the European Business Forum have posted an interesting article entitled "Why good companies fail." They discuss how the average lifespan of an organization isn't what it used to be and argue that the primary reason for this trend is the inability of organizations to adapt quickly to radical changes in their business environment.
What is required for organizations to have this ability, then, is something the authors call "anticipatory management". This is the ability of the firm's executives to anticipate changes in their environment and to be proactive in repositioning their companies.
From the article:
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What is required for organizations to have this ability, then, is something the authors call "anticipatory management". This is the ability of the firm's executives to anticipate changes in their environment and to be proactive in repositioning their companies.
From the article:
"Anticipatory management is most needed and works best when the external environment is undergoing rapid and discontinuous change. Anticipatory management gives organisations a major competitive advantage. Trends that are anticipated can be planned for, and competitive advantage accrues to firms that do so better and earlier than their competitors."Read the full article here.
Labels: adaptability, management
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