To meaningfully improve outcomes and create significant new value, it’s important to be good at recognizing and managing risk in the near term + the changing nature of risk that occurs over time.
Given the evolving business landscape, new notions of value, increasing Customer / User expectations, many variables that are changing within the company / industry / and society – being good at understanding risk on an ongoing basis is a huge challenge !
And made worse because of “ Blind Spots “, paradigm shifts, the need to pivot periodically, organizations struggling with change, people not learning fast enough or not understanding and adopting new concepts and technology, the business not adding meaningful new digital services or evolving the business model, etc.
With these being significant challenges, it’s easy to see why the majority of startups fail and many enterprises become less relevant (as indicated in the turnover in the Fortune 500 over time).
To help with understanding risk, based on the following chart –
- Where is your organization today ? Where do want to be in 5, 10, or 20 years ?
- What’s the plan to get there ?
- What are the important objectives, competencies, metrics, outcomes – to confirm the organization is moving forward ?
- What’s the mindset needed to meaningfully move the needle ?
For additional insights on risk, effecting change, developing the mindset to innovate for impact, etc. see – www.cail.com/BI .
March 18, 2025 CAIL Innovation Commentary info@cail.com www.cail.com 905-940-9000