CEO of CSIRO Dr. Larry Marshall states^ that organisations ‘have to act like a startup not a large corporate and be willing to disrupt themselves before someone else does it to them.‘

He also goes on to state that businesses not willing to invest in changing the future may not be included in the future. With 25 years’ experience as an international technology entrepreneur Dr. Marshall knows firsthand how hard it is to wrestle with 100 years of history and 100 years of culture which the CSIRO have.

Funnily enough these words were echoed by former CEO GE Australia Geoff Culbert who stated a few years ago that “GE is a hundred year old start up and everyone is part CEO in some way ”. Clearly the strong sentiment is powerful.

While many businesses may be a lot younger in age and stealth than GE or CSIRO, they are already losing the battle for relevance:

  1. By failing to capture what the data is telling them about their businesses so they can prepare for the future.
  2. Thinking they have to be big to be smart.
  3. Believing they have to have unlimited funds to invest in costly research to be successful.

Yet the answer may be not as illusive as that. Perhaps you just have to be insatiably curious and start by asking one simple question that pretty much gives you what you need to know to stay in the game.

Ask yourself – ‘If you were your biggest competitor – one that is taking away your market share and value, what would you do to gain the upper hand?’

If that doesn’t make you hungry for business, maybe the writing is on the wall – go fishing instead.

What are you going to do to oust your biggest competitor in 2019?

Are you going to be a leader by chance or choice?

^Australian Institute of Company Directors November 2018
About the author : Ricky Nowak

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