Many organizations will discover too late that survival mode is no longer adequate. A shift has occurred, requiring leaders to exercise more than situational awareness used to identify immediate short-term financial trends. Leaders in the New Normal 2.0 must open their eyes to emerging, even sometimes barely detectable, long-term shifts in the societal and global business marketplace.
Organizations must take fundamental action in three ways.
- Leaders must assess how relevant trends impact their organizations,
- they must create responsive and compelling mission statements, and
- then they must develop strategies using the right set of master disciplines.
Organizations that follow these steps will do more than survive in the New Normal 2.0. they will thrive.
Few leaders have established a New Normal 2.0 framework that considers an integrated approach to financial, social, demographic, and technological changes.
The first step when facing major transition is to heighten your awareness of marketplace changes. Abundant tools exist including customer relationship management (CRM), voice-of-the-customer (VOC) processes, and analysis of data on demographic, economic and political changes. Leaders benefit when you step out of your office and engage with colleagues, vendors, suppliers and community associations. Take advantage of the latest trends by gauging your market through social media networks such as Facebook, Twitter, and LinkedIn.
Secondly, leaders must focus intensively on how to adapt to emerging conditions. You must develop both a sound strategy and a management discipline that facilitates high levels of engagement with employees and customers.
Finally, leaders must explore and define your companies’ core business. You must do so in a collaborative manner that taps into the minds of managers at all levels of the organization. [2] Noncore activities must be eliminated or minimized so that resources can be focused on what matters most. The result will be an authentic, relevant brand that resonates with customers and employees.
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