The World changes and for businesses to survive and thrive, they must remain relevant. And that is why Diana Rivenburgh’s book is so important . The New Corporate Facts of Life describes the high leverage factors that are changing in the dynamics of business and well as providing ways to exploit those changes and so how to stay relevant.
The key features of the New Corporate Facts of Life are Disruptive Innovation, Economic Instability, Societal upheaval, changes in Stakeholder Power, Environmental degradation, the effects of Globalisation and Population Shifts and these are all factors that are driving change for the business world.
Add to that political motivations that create commercial opportunity such as climate change and energy security and it is clear that operating a business in a manner that can not only survive but benefit from these changes is crucial.
Rivenburgh has considered these and other factors deeply and offers ways of exploiting each. These include:
- Reset the corporate mindset – this will allow other opportunities and possibilities to be considered and exploited.
- Create a compelling vision – To engage both your customers/clients and your staff.
- Map the strategic journey – Know where you are going as an enterprise and key steps as to how to get there.
- Build a unique and vibrant culture – Without a culture that encourages involvement and commitment, it will be impossible to achieve the strategy. Create meaningful work and lead with integrity.
- Lead on the edge of change – Think Boundaries, Opportunities, Learning, Deliverables, Emotions, Systems and Talent (BOLDEST). Each offers a leadership advantage as these factors that are most likely to identify future opportunities and innovative solutions.
- Engage to excel – The stakeholder engagement continuum offers you the ability to look at how you can influence your stakeholders and customers to ensure you are meeting or exceeding expectation.
- Design a resilient organisation – Create the processes, structure and systems that work supportively together to implement your strategy.
The end of each chapter offers insight into how the new facts of life can be exploited and applied. It also offers a measurement grid so that you can use the book for assessing how well you currently responding to and dealing with the challenges of these changes.
In the final section of the book, Rivenburgh offers 4 lessons and some positive encouragement.
1. You can meet the people you need to meet – It is easier to connect that any other tim in history so be a connected and get connected.
2. You can learn what you need to know – anything from app development to an MBA can be learned in a relatively short period of time and more easily than ever before.
3. You can turn every problem into an opportunity – Branson has made millions from seeing where a customer is being poorly served and turning that into an opportunity to grow a new business.
4. You can lead from where you stand – you don’t need a title or a position or even permission. Just see the opportunity to make things better and do it.
With important observations on the problems caused by the new corporate facts of life and with and guidance on how to implement creative and effective solutions, Rivenburgh has created an important book on the contemporary challenges of modern business. To be unsighted on the challenges you face is to leave your business in danger of not responding in a World where such complacency is often commercially fatal. This book is must read for anyone in the corporate environment and extremely useful for anyone looking at business in this demanding new era.
Dare to Aspire