Trumpeting your firm’s achievements makes your top managers more attractive to competitors and gives them a leg up in the labor market. Greater care should be taken with media splashes to hold on to your talent.
Despite being an exemplar of strategic agility, the fearful emotional climate prevailing at Nokia during the rise of the iPhone froze coordination between top and middle managers terrified of losing status and resources from management. The company was wounded before the battle began.
The military approaches peacetime with risk management and wartime with uncertainty management. To operate amid uncertainty, managers become leaders and more autonomy is given to troops to ensure agility and resilience.
Organising a diverse team to service one client may minimise the risk of them switching firms on the coat-tails of a senior executive, but if the individual coordinating the network departs, the cost could be even greater.
Firms trying to tap into new markets for growth often fall into the traps of putting resources into wooing existing customers and investing heavily in value-added offerings. But this won’t get them to blue oceans.