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Conducting market research
Analyzing data to make informed decisions
Developing a product roadmap
Routines are healthy, predictable, and comfortable.
Yet, many businesses have found themselves in uncomfortable positions over the past two years. The restaurant industry had to rapidly shift to online ordering and curbside pickup. Airlines and cruise lines had to rethink the entire traveller experience. It resulted in industries forging new paths and making groundbreaking discoveries. Innovation happened.
Behaviour patterns have changed and companies must respond in turn. Two-thirds of organizations surveyed in 2021 said their strategy would change significantly in the next three years as they adjust to the pandemic. However, many companies don't believe they are agile enough to support the evolving business needs.
Organizations that take an adaptable, flexible approach are far ahead of those who want to do business as usual while the world has moved on.
A business comfortable in its routine is often change-averse. This fear of failure is preventing innovation and one that organizations must overcome to avoid the risk of falling behind.
Leaders promoting innovation are taking the bold step to shake up the status quo. But, to earn buy-in and support, they should find a common, relatable ground.
Continuing to do the same things in the face of change eventually results in irrelevance.
Responding to emerging market conditions can position organisations to be more resilient when the trend eventually leads the rest of the market to follow.
Sometimes the most important life lessons are the ones we end up learning the hard way.
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