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Even the swiftest of fastfollowers will struggle to not choke on the dust of first movers in today’s world. The post Leadership and Digital Transformation appeared first on The Executive Hub. If you’re stuck in the purgatory of a legacy based business model, don’t transform – reinvent.
The thing you want to be these days is a “fastfollower.” So all you have to do is look at the industry you are in and identify all the things that are wrong with it….Next, Next, you must begin to study how the solution to that problem will impact you, and find out whether you have any ability to solve it on your own.
Many successful bloggers today were not necessarily first-movers, but rather fast-followers able to leap frog the early adopters. For those of you in leadership positions, particularly at the chief executive level, blogging is an incredibly powerful platform, which should only be ignored at your peril. Where Are We Now?
The speed of technology advances in the market are making the old paradigm of first mover versus fastfollower largely irrelevant – every business must now become some version of a first mover. Digital transformation is really more of a leadership, culture, strategy, and talent issue than a technology issue.
Move fast, follow momentum – The future is always changing. You are able to take challenges on because you see that there’s nothing to lose. If we think we are big and significant, our risks will be small and insignificant. Bobby is frequently asked what the future in 5 years will look like.
I wrote a couple of months ago about China's leadership in the clean tech race , but at the macro level. But don't count them out for long; if there's one thing Chinese companies are good at, it's implementing a "fastfollower" strategy. That's what China's Hi-Tech Fair is doing. and the West for best practices.
There is still a debate in strategy circles about whether it is better to be the first mover or a fastfollower, and whether missing out on the first wave of disruptive innovation means falling behind forever. But one thing is certain: Learning from a missed opportunity and then innovating beyond it helps anyone get back in the game.
I wrote a couple of months ago about Chinas leadership in the clean tech race , but at the macro level. But dont count them out for long; if theres one thing Chinese companies are good at, its implementing a "fastfollower" strategy. Thats what Chinas Hi-Tech Fair is doing. Its another thing to see the green focus up close.
What Nike and Coca-Cola leadership get is that the climate issue is a systemic problem, not easily defined in one single way, and it directly and profoundly affects their business. In my experience, most companies are risk-averse and like to fashion themselves as great “fastfollowers.” That’s exactly right.
GE's Jack Welch was inordinately fond of emphasizing that his biggest leadership regret was that he didn't move fast enough to make fundamental changes. By stark contrast, IBM's Lou Gerstner practiced a cultivated deliberateness in his successful turnaround: Slow and steady won his leadership race. That's a mug's game.
There is a much more important change in the global distribution of power underway, and the play for leadership of the World Bank signals that emerging markets will be increasingly bold in asserting their views about the management of the global economy. And apparently not in the fight over leadership of the World Bank.
Many social enterprises start small and grow fast. Yet planning for future leadership needs falls between the cracks at most social enterprises. Leadership development doesn't need to be a separate initiative or an expensive training program added on to the organization's core work.
For example, new product development may be the lifeblood of a consumer products company—and thus need to be cultivated and resourced carefully—while in a low-cost producer, or fastfollower company, product development may be only a nice-to-have activity.
The leadership at Slack used the process to decide between two fundamentally different marketing approaches. Sprints encourage fastfollow-up. Business-as-usual decision-making is busted: we strive for consensus; we don’t make tough calls; we aren’t transparent about how choices are made.
China's brilliant "FastFollower" innovation policy is generating the biggest transfer of technology in history. We need a much more skilled business leadership than we have currently, capable of creating as well as managing. global competitiveness.
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