I keep on getting the question. Like your mind candy. Interesting. But what do I do with it?
A few questions first:
- Are you aware of your environment?
- Do you have an information dashboard?
- Does your company have an information dashboard?
- How many in your company use an information dashboard?
- Do you scan on an ongoing basis?
- Are you passive, reactive or pro-active?
- How is the scanning distributed in your company?
- Is the scanning linked to scenario planning?
At a minimum, it should make you aware of some of the trends and how fast things are developing. Use the bits that are relevant and consider their impact on your business. Preferably by developing scenarios for yourself or, even better, discussing those scenarios with everyone in the company.
Let me explain
- Strategy is about initiating and predicting the future (and your place in that future)
- Companies do not spend enough time on scanning their environment, let alone about scanning for future trends that might impact ton their business model.
- Most companies are situationally unaware. Which means they are flying blind.
- Sometimes the management of the company is fully aware, but that does not mean that the rest of the company is. As a result your ability to sense and adapt is diminished.
The above means that strategic decision-making is either poor or slow, or both. Enhancing the possibility of business failure.
Checking mind candy
If a piece of information resonates, ask yourself a number of questions:
- Why does it resonate?
- It is relevant?
- Is it a hard or soft trend?
- Opportunity or threat?
- Does it impact now or in the future?
- Is the impact internal or external?
- Who should know?
- Does it link with other trends?
- What are the possible scenarios?
- How should we respond?
If you want to go a level deeper, you should also develop your strategic filter and apply reverse attribute listing. See https://www.ronimmink.com/strategy-for-2023-four-simple-tools/.
3-step strategy development programme
Ultimately leadership is about predicting the future. If you want help, you can invest in my 3 step strategy development programme. See https://www.ronimmink.com/perception-pioneer/. Get in touch for a free call to find out how I can help.
PS You can subscribe to mind candy here.