The transformation imperative

Scott Anthony, in his new book, The Silver Lining: An Innovation Playbook for Uncertain Times, does an excellent job of making the case for corporate transformation, and why it is an appropriate approach can help companies to escape their narrowing options in today's turbulent economy.

Scott Anthony, in his new book, The Silver Lining: An Innovation Playbook for Uncertain Times, does an excellent job of making the case for corporate transformation, and why it is an appropriate approach can help companies to escape their narrowing options in today’s turbulent economy. Consider these factors:

  • Standing still is no longer an option, as global competition continues to intensify and industries collide with one another.
  • In a recent Forbes survey, over 80% of respondents recognized the fundamental need for transformation, but only 12% reported making excellent progress in their transformation efforts. 80% of respondents also indicated that the current economic climate is increasing the need for transformation, even as the tough economic climate is the amount of resources for transformation constant.
  • Today’s turbulent economy is squeezing budgets like never before. Today’s leaders must simultaneously cut costs to the bone while at the same time planting and nurturing seeds of tomorrow’s growth businesses. Is it any surprise that chief executives find it difficult to master these diametrically opposed challenges?
  • Intense competition leaves little room for error.
  • Impatient stockholders make chief executives less risk tolerant.

Despite these seemingly insurmountable challenges, Anthony believes that transformation is possible, provided that senior executives master a new set of skills:

“Companies have to stop some innovation efforts to free up time and money for transformation. They have to do more with less by improving the productivity of individual innovation initiatives and broader innovation programs. They have to start loving the low end to reach value-seeking customer segments. Individuals need to start driving personal reinvention so they have the fluidity to master increasingly common paradoxes… Those (companies) that manage the great disruption in the right way still have substantial opportunities. It is going to get tougher, and the bar for success is going to get higher. But there remain ample opportunities to be seized by those who don’t freeze.”

Scott Anthony is one of the leading voices in the world of innovation today. I can’t wait to dig deeper into The Silver Lining to learn more about these transformation strategies.

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