Uncertainty, Technological Turbulence, Competition-- What’s a Manager to Do? Thrive on It
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Overview: The article explains about dramatic increases in competitiveness, technological turbulence, deregulation, globalization and information intensity have created perpetual uncertainty in everyday managerial life. This is the kind of uncertainty that eats conventional companies--and traditional management strategies--for breakfast. It used to be that only sectors affected by de-stabilizing events or new technologies needed to continuously re-invent themselves, but today no one is immune. Asserting that executives need to start thinking like entrepreneurs, the authors emphasize that uncertainty, looked at in the right way, can yield tremendous opportunity: Once entrepreneurial thinking becomes second nature, one will be able to continuously identify uncertain yet high-potential business opportunities. Uncertainty becomes the ally instead of the enemy. As a model for today’s managers, the authors identify people they call "habitual entrepreneurs." The article defines several key characteristics of this breed. They passionately seek new opportunities and pursue them with enormous discipline. The basic outline is to create the entrepreneurial frame, stock the opportunity register, target the best opportunities, employ adaptive execution and lead with an entrepreneurial mindset.
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Format: HTML | Date: Aug 2000 | Pages: 1
