What does it mean to move at the speed of business?
Jim is an executive director at Jurgensen Companies.
In the current climate of our changing economy, we must be cautious about making changes without a careful and precise goal in mind. In our ever-changing economy, making changes without a careful and precise goal in mind is dangerous. Many businesses once considered the pinnacle of their sector are now extinct. Kodak Corporation was one such company. Leaders in the Kodak Research branch attempted to inform Kodak Executives of a direction intended to create competitive and positive change. However, the executives failed to change the technology that was developed partially in their own R&D labs. The research team was completely left behind by their peers, which contributed to their downfall. The case of Kodak Corporation is a prime example of what results from poor planning and a lack of willingness to change with current required standards.
As we continue to move forward with new ideas, methods and technologies, change must be grasped tightly in order to remain ahead of the competition. Change is imminent. Careful planning and rational decision-making is a requirement. If we become complacent due to our current successes, we will become the casualties of this decade. In the words of one of the greatest presidents:
“Give me six hours to chop down a tree, I will spend the first four sharpening the axe.”