There are two things that are certain about the future of the business world.
It will be different and it will surprise!
The companies should build a dynamic competitive edge for a business of tomorrow.
Senior executives should be careful to check the following early warnings of the disappearing advantage of their business. Otherwise they will find their business in the Valley of Death!
Employees don't buy your own company's products.
Customers are finding and choosing cheaper and simpler solutions.
Customers don't prefer your products, services and offers and also they are not proud about your brand.
Competition is emerging from different unexpected places (local and/or global).
Your stock is being continuously undervalued.
Some of your people are talking about a new technology or service can change your business.
Your marketing and innovation strategic plan is increasingly failing in the last two years.
Some of your qualified people are leaving the company.
Retails, supermarkets or customers don't increasingly interest more about your offers and products.
Your growth ratio has slowed or reversed in the last two years.
The company is cutting back on benefits.
You are pushing more risks to employees.
You have a poor long-term innovation and marketing strategy plan.
You are weak in strategic diversified new product portfolio over the next five years.
You are weak in a long-term risk management strategy.
You are weak in a formalized monitoring and tracking system for your organization and marketplace.
You are weak in compensation programs that encourage entrepreneurship, reward risk takers, and reinforce innovation management.
You are weak in consistent commitment to new strategies, products or services in terms of funds and requisite managerial know-how.
You are poor in making long-term sector analysis.
You are weak in competitive intelligence works.
You are weak in internal and external networks.
You are weak in your innovation and R&D skills.
Your time management is weak and not competitive. You are slower than competitors.
Your leadership is not interesting and rejecting the importance of bad news from organization, customers and local and global markets.
Your organization is weak in alignment.
These are the early signs of fading customer value, profitability and growth in a business.
Check your business and take preventive measures. Don't fall into the Valley of Death!
What type preventive measures did you take to keep your growth and profitability in your organization?
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