21download_doc-26.php

21download_doc-26.php - Timing- The Bedrock of Anticipatory...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Timing- The Bedrock of Anticipatory Management Intro o Corporate success will be contingent on the ability to synchronize actions to the dynamics of an ever-shifting marketplace o The formula for business success has not changed over the years Companies have always needed to offer the right products and services at the right time in the right place at the right price Timing can make a real difference o Wayne Gretzky The key is to anticipate o Luck has been defined as what happens when preparation meets opportunity o While Grezky’s success may be attributed to his keen sense of timing, a closer look reveals that timing is really the result of four distinct capabilities ASAP Anticipation Speed Agility Perceptiveness Anticipation: Giving the Firm a Head Start o If you can’t have 20/20 foresight into what the future holds… want20/20 foresight into what the future may hold
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
o Anticipatory management includes asking WHAT IF o Take a mental journey into the future by exploring various possibilities o By running scenarios executives may be able to identify emerging factors and forces Lessening the chance of being blindsided o By seeing possible situations and events earlier, management has additional lead time to position the firm to capitalize on opportunities and prevent problems o Scenarios have offensive and defensive dimensions Offensive scenarios They may indicate emerging market/product/service opportunities Defensive scenarios May reduce the likelihood that management will be blindsided by events that could be detrimental to firm o Scenarios may not be able to offer certainty as to what may happen But they do encourage executives to explore possible futures The Quick Environmental Scanning Technique… QUEST o It’s a systematic way to identify future events that could affect their firms o Scenarios play an integral role of the “3 I’s” of anticipatory management Inquires Into what the future may hold
Background image of page 2
Once management identifies certain possibilities, it can direct its attention to estimating the probabilities that such events may occur and analyze the likelihood of certain combinations of events Insights May be gained from the inquiries Insights into what the future may hold can cause management to see the world differently o Thereby serving as catalysts for new initiatives Newfound insights will likely produce more innovative strategies for firms that embrace strategic thinking Initiatives That are incorporated in the firm’s plans and strategies to position itself They may help capitalize on emerging opportunities or prevent potential problems Anticipatory management gives executives the opportunity to operate proactively o Firms that incorporate anticipatory management will be victims of change o Anticipatory management is one of the qualities that separates successful executives from mid-level managers Most managers spend their time trying to solve problems
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 15

21download_doc-26.php - Timing- The Bedrock of Anticipatory...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online