When Ralph and I published our book Value Acceleration, we were asked for ideas on the steps to take to get Value Acceleration for your company. We came up with seven. We will post them here over the next couple of weeks for your amusement. BTW, the book hit #1 Industrial Marketing book on amazon.com on May 1.
The second step is to understand your external environment. The external world in which your company exists affects your ability to accomplish your goals. (And hasn’t that been made even clearer over the last several months!) Some of the external influences help you achieve your goals (enablers), and some get in the way (obstacles). While you cannot control the external environment, successful companies develop processes to monitor and predict the external environment so they can adapt their strategy to optimize their chance of success.
And lest you think it is too difficult to do that for your company and its limited budgets, I met with a group of CEOs last week from mid-sized companies who had followed the advice and predictions of the Beaulieu brothers early in 2008 and were in solid shape to deal with the downturn that hit their companies in Q4 of 2008.