Businesses should strive to achieve sustainable change. Sustainable change is achieved through the synchronization of people, processes and technology required to achieve a lasting competitive advantage over time. More than just a hunt for increased profits, sustainable change is about profiting consistently and using a superior business model to protect that profit over time.
How A Business Achieves Sustainable ChangeThe goal is to zero in on a business model that can be defended against competition, even as conditions change over time, and even when the business is under stress. The question is: what single characteristic does a business possess that it can always rely on to win? For example:
- Wal-Mart wins on price.
- Apple wins on style and ingenuity.
- Walgreens wins on convenience.
- Amazon wins on choice.
The Five Steps To Achieving Sustainable Change
- Business owners have to understand their right to exist! They should identify what their business does best and how it can deliver more value than its competitors.
- Hire the best people they can find.
- Embrace new technologies.
- Relentlessly seek improvement.
- Prepare for the future.