In Part 2 of our blog Andrew discusses a second key element to success in business.
FLEXIBILITY, which is defined in this context as an ability to adjust or ADAPT strategy to meet changing demands.
- Business FLEXIBILITY does not mean defocused in any sense; it is where a business can be reasonably Stick to your knitting.
by pursuing specific objectives yet remain connected to what is happening (internally and externally) and be ready, willing, and able TO ADJUST FOCUS, should circumstances warrant. In other words, the business can and should ADAPT to changing conditions.
Now if this sounds familiar, it considers the idea of Business Adaptation and that other famous little theory by one Mr C. Darwin; EVOLUTION, which has otherwise been paraphrased as “Survival of the Fittest” or best adapted to its external environment.
For those in business who have experienced operating in highly competitive ‘dog-eat-dog’ environments, survival can mean how much commercial or financial pain that business can withstand and perhaps is a measure of its ‘financial fitness’.
Not forgetting the downside of being unwilling, unable or too slow to adapt… Extinction.
This is where this model hopefully comes together.
The idea of a business being FLEXIBLE, adapting, responding, or even evolving in response to its external environment (the market) leads to another key element essential in any B2B business today.
If your manufacturing business could benefit from a fresh perspective contact Andrew Dallison at andrew@oxygen8.co.nz or 027 650 5768