Stalls are harmful thinking habits that delay exponential growth. Let's look at three stalls that you need to avoid.
"Where Are We Going and How Do We Get There?" -- The Directionless Stall
Many organizations have been drifting in the same direction they have always been going, and find themselves lost when an irresistible force suddenly pushes them at high speed toward a new destination. By not knowing whether they want to go to that new destination, they leave themselves open to inaction and indecision.
Borders' slow commitment to on-line commerce shows that problem. The company had been trailing Barnes and Noble in large retail book and audio stores, which kept its management very occupied with opening new stores and adding financial resources. Published reports suggest that Borders' management was unsure whether to add on-line commerce as a business or not.
Borders waited until both Amazon's and Barnes and Noble's Web sites were operating before opening its Internet site. As the third player to the party, it increased the likelihood that the cost of acquiring customers would vastly exceed those of its two key competitors.
"But That's Not the Way I Thought It Would Be!" -- The Wishful Thinking Stall
Most enterprises act as if they can anticipate the future with a great deal of certainty. When an incorrect assumption is made, actions usually become inappropriate for the real situation. This is like following a road map that is inaccurately drawn so that you end up driving to the wrong destination, and only discover your error when you arrive at the wrong place.
Computer makers for many years believed that the profits would always be in selling the hardware. As a result, they would not make their software available to those who purchased other hardware. They waited for the world to beat a path to their door, and the world went elsewhere.
Apple Computer is a good example. The company had an operating system for its Mac products that was years ahead of what Microsoft had available. Apple chose not to make this software available to those with IBM personal computers and their clones. Based on the recent stock market values of Microsoft and Apple, this was a costly error costing Apple shareholders hundreds of billions of dollars.
"What Do We Do Now?" -- The Helplessness Stall
When the familiar and predictable environment becomes hostile and unfamiliar, those responsible for an enterprise's progress often feel unable to regain control. They become hamstrung as a result of feeling overwhelmed by events.
An auto parts supplier grew mightily during the automobile boom leading up to the second oil shock, the one that almost destroyed Chrysler. When gas prices soared and demand for cars plunged, colleagues reported that the CEO spent day after day sitting immobile at his desk, unable to make decisions.
Fortunately, colleagues seized the reins temporarily before it was too late and made the necessary adjustments to survive. In the meantime, millions were lost unnecessarily.
Copyright 2008 Donald W. Mitchell, All Rights Reserved
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