Although these question marks are innately unsettling, disruption should be viewed very much as a wealth creation opportunity that can be harnessed by looking for the anomalies from which you might benefit, exploit or leverage. The key is to proactively plan the potential moves that the business should take to adapt and win as things change.
For example, when a major defense company risked losing a significant portion of its business due to shifting federal priorities, the company implemented three innovation programs to reinvent the company’s business. One team adapted military GPS technology to track and recover ocean-based mobile fish pens when they stray off course. The company has turned this idea into millions of dollars of annual revenue, and technology previously used for defense is now helping to feed people, too.
3. Carefully consider competitors’ future strategies. Competitive anticipation requires more than gathering current-state competitive intelligence. Instead, actively play out what competitors’ likely positioning moves, innovation efforts or strategic steps may be down the road as conditions change. Work with a team to evaluate how today’s competitors and emerging foes may move in on your customers or change market dynamics in a meaningful way.
Conduct regular exercises to evaluate how you can outsmart the competition or perhaps change the game entirely. Rigorous competitive anticipation requires data, dialogue and a disciplined approach to openly test assumptions and derive valuable insights.
A major pharmaceutical company profiled how their biggest competitor stacked up against them in several key areas across five countries to clarify capability priorities for the different global regions. Insights gained from this exercise helped to inform the launch of their latest oncology drug for breast cancer.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
