C-Suite Blind Spot – 2021 Building off the 2020 Experience – A Foundation of Strength

Blind Spot

There is no doubt that 2020 has been one of the most challenging business years since WWII or the Great Depression. Whatever your industry or company size, senior teams have been thrust into crisis mode, followed by survival mode, and are now preparing to enter 2021, future mode.

What this future mode looks like will vary dramatically based on your industry’s outlook and the pandemic’s impact on your customer demand. However, almost every company is being faced with many of the same challenges, maybe just in different ways. Workplace safety, security, wellness, corporate culture, etc. are all areas that have come under intense scrutiny by senior management in an effort to survive and thrive during these unprecedented times.

Does an intense, all-encompassing, companywide review of all functional areas provide senior teams an opportunity? Can management at all levels benefit and build off their efforts and use the lessons learned to transform their organizations?

Illumination

The Harvard Business Review recently pointed out that the history of “shock events” such as COVID19 to the business world is not always negative. Even in severe economic downturns some companies can gain significant growth and profit advantages. While crises produce an overabundance of temporary changes and negative experiences, they also present the potential for positive long-term opportunities.

Taking this into perspective, the potential for positive outcomes for some businesses in the aftermath of the effects of the pandemic is not an unrealistic expectation. The foundations to achieve this has already been laid by companies that have had to strip their structures down and reinvent themselves in order to survive. Businesses that are experiencing positive growth demand during this phase are also poised to tap into this even more moving ahead. If management makes it a priority to capitalize in the areas they are able to opportunities can continue to abound.

As management teams work to transform their companies and prepare to enter 2021, strategic opportunities exist like never before. The climate, mindset and culture for business transformation is open and opportunities for growth and evolution can be uncovered by re-examining areas of:

· Market Assessment – Growth and Niche

· Business Model Refinement and if necessary, Pivoting

· Product & Service Innovation

· Supply Chain composition and location

Many of my accomplishments have been win or lose situations. For me, second place was not an option. My key to success was to assemble a diverse team of specialized individuals who were experts in their fields. Together, we were able to develop strategies that helped me to identity, address and eliminate my “blind spots”. When winning or losing are the only two choices, choose to win.