FAST COMPANY: SIX WAYS TO PREVENT CORPORATE TUNNEL VISION

Fast Company’s Adrian Ott challenges you to look B.E.Y.O.N.D. so as not to risk being blindsided by competitors. Ask yourself the following 6 questions to uncover hidden risks and opportunities.

Fast Company Excerpt:
Success breeds complacency. Business school case studies are chock-full of innovators that truck along, and Pow! in comes a new player and customers are suddenly gaining value from somewhere else. Such formerly high-flying firms default to the approaches that brought them initial success, even when markets change.

Such upheaval is evident everywhere in the business world today. Did you know that big-box retailer Walmart now competes with Comcast, and Netflix for movie streaming on TVs? Or that a business-to-business network equipment giant Cisco now competes with Kodak and Sony for consumer camcorders?

Most market incumbents stick with their current products, business models and industry for their entire existance, such that they don’t see opportunities to move–or the risk of new entrants. Such tunnel vision presents a tremendous opportunity for savvy executives looking outside their current base to grow revenue or maintain leadership.

To win, look B.E.Y.O.N.D. business boundaries…

Read complete article.