Business models have lifecycles just as products do, and in most industries the lifecycle has shortened dramatically. In order to create and capture value on a sustainable basis, companies must regularly reinvent themselves in light of market opportunities and their core strengths. It’s tempting to put off planning for tomorrow when today’s model is generating healthy returns. But leaders must continue delivering in the existing framework while transforming to tomorrow’s approach.
It starts with the challenge of rethinking the possibilities of the business — asking fundamental questions about what business you’re in and how the market is changing — and defining new growth platforms that can sustain performance. Successful strategies can only be designed and implemented by organizations that have the right processes, capabilities, and cultural elements in place. Great companies institutionalize the capabilities to do this reliably, year in and year out.
Numerof can help you rapidly adapt to changing market conditions. Contact us to learn more about our experience and solutions.