B
USINESS Business Demands Split
Thinking E
xperience shows that companies with a long- term vision always prevail overthose that emphasize short-term profitability, according
to Eric Viardot, author of “The Timeless Principles of Successful Business Strategy.”
The economic reality of the last four to five years has thrust many companies into unfamiliar territory – bankruptcy. Those that did survive had to turn to gov- ernment agencies for help. Viardot says the fault is not with the economy but with the managers of these corporations who “forgot the basic strategic rules and steered their companies towards disaster or a total collapse.”
Greed and free credit of course underlined most make-a-buck-quick decisions. Coupled with a lack of respect for customer intelligence, not noticing changes in the global marketplace and underestimating risks -- failure was inevitable.
This should be a lesson for the future. And lesson No. 1 – establish a strategy and be flexible about it.
“By invoking lessons learned from academic research, from works undertaken by large consulting firms on strategy, as well as the practical experiences of companies that have stood the test of time,” busi- ness leaders can learn a lot. To the benefit of those who wuill listen, Viardot has chunked together much of the teaching and built on them to create a set of premises that he believes will work to reestablish the footing or create new footing for business in the decade ahead.
The smart company, says Viardot, sharp business leaders don’t wait for a sunny economic climate to plan new strategies or to revise old ones. In fact, the best time to take action is when things look flat. That’s precisely when to look for opportunity – in times of
22 ASIA Feb. 26-March 18, 2012
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