As we have discussed previously, taking proactive steps to address change in the business world is a critical mindset for business sustainability planning. However, an equally important aspect to the process is having the ideal marks of success defined.
Within our professional consulting experience, we have executed our fair share of strategy sessions. These lengthy discussions usually begin with a vision statement and ultimately end with an action-plan in pursuit of a desired result. While business sustainability visioning is a manageable process, the sometimes more difficult part of the process resides in the end: What does success look like?
In an interesting Harvard Business Review post, Stop Competing to Be the Best, we find a discussion of this very topic. The authors present an argument that states that most companies seek to be ‘The Best’ without a clear definition of what ‘The Best’ is or if being the ‘The Best’ is even distinguishable.
“If you want to win, this is absolutely the wrong way to think about competition. In fact, it's practically a guarantee of mediocre performance. The first problem with the competition-to-be-the-best mindset is that, in the vast majority of businesses, there is simply no such thing as "the best." -Michael Porter, author of The Essential Guide to Competition and Strategy
Over the last few years, business sustainability has taken on a whole different meaning to those seeking to be on the leading-edge. We find that the traditional measures of business progress are now integrated with sustainability concepts which have become essential to continuous success. Our sustainability consulting encourages your organization to evaluate your business strategies and definitions of ‘success’ in 2012.