Most companies in India find it difficult to expand their
existing businesses, while continuing to maintain their focus on their key
business areas. However, it is also extremely essential to find out innovative
ways of growing your business. The challenge for business comes in here – the
challenge to manage the present and also remain relevant in the future.
Companies need to balance their operations and innovations. There is a need to
explore and to exploit. There is a
need for everyone in the organize to be curious of unique ways and
methodologies and remain focused on
the present areas. These states are critical for business to maintain.
While CEOs and their leadership teams are aware of this
challenge intuitively, what remains to be seen is how they develop their
capacity to renew themselves every few years.
I propose to address this challenge through the following
means – let the curiosity among executives continue to burn, instill the discipline
to learn and search for the unknown.
While leaders are obsessed about shaping the future and they
obviously can’t do it alone, it is essential to build the same conviction internally
within the organization. Smart executives can periodically be given a challenge
wherein they are asked to explore new frontiers and come up with new ways to harness growth.
Cultural changes take time and so does acceptance of new
ways of harnessing growth. Companies must adopt a continuous approach to
learning (which goes beyond an offsite), wherein leadership teams come together
and build a common understanding of the various challenges facing the business.
Discipline is essential to ensure that learning journey result in real
Leadership teams must continue to search for the unknown. The
future is invariably uncertain and requires that companies deal with ambiguity.
Listening in to voices other than your own and having the humility to learn
will help companies deal with this business challenge.