Business Urgency and Appropriate Action Overview
Every enterprise (business endeavor) is in a race against time and insolvency.
When the team doesn’t keep a fast pace, they fall behind in everything and when this happens no amount of money or clever thinking will close the gap between them and their fleet competitors. Time lost is time gone forever. Sometimes there are legitimate reasons to move slowly and carefully but it is difficult to know when patience should surmount urgency.
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To stay appropriately urgent, management should assess the rationale for applying the brakes. If critical information or data points are imminent, it is usually worth waiting. If the desire is to perfect something prior to launch, it is usually not worth waiting. The team should accept that the imperfect is not the enemy of the good, it is enough to be just “good enough”. This will ensure progress because sometimes ‘failing to act is acting to fail’ and there just isn’t time for inappropriate inaction. A management team that tends toward slower responses to opportunity and challenge will invite cumulative damage to the company’s health.
Business – apparently random external events
Sometimes tornados just happen. Sometimes fish fall from the sky. Often it’s both random and devastating to many who are unprepared (especially the fish). Youthful businesses as well as those having been established for many years can fail for reasons beyond management control when change dynamics enter the marketplace or product life-cycle.
Any business making reasonable headway in the summer of 2008 with a product aimed at financial firms, including Wall Street, large banks or mortgage companies, are well aware of this effect. Sometimes enterprises (companies) are “overcome by external macro-events” and succumb as a result. Any enterprise, even large corporations, can do almost everything right and still fail because of these sudden, phase-shift events.