Is generative AI killing best practices?
Today’s best practices are under threat - from disruptive innovation and sheer rate of change. Most best practices are an accumulation of years of experience and knowledge distilled into an optimal process which is further refined through experimentation and practice. But we live in a dynamic and volatile environment where timescales are compressed and businesses have to deal with a growing list of influences – consumer demands, supply chain disruption, product innovation, ESG compliance and economic value are just a few of the more prevalent factors.
So how do we know if a practice is best for today and what happens when things inevitably change next week/month/quarter?
We believe there are 3 broad solutions:
Know where you stand today through benchmarking and address any opportunity to enhance today’s processes and practices;
Anticipate the future and create scenarios against which you can develop alternate operating plans; and
Create an innovation mindset to challenge conventional practice by determining how desired outcomes can be met via different routes
Elev8Exec has a proven process for benchmarking and prioritising enhancements to processes across sales, marketing, operations, customer services and R&D.
None of us can accurately predict the future but anticipating future events and planning for them, creating a plan B,C, D is a valuable exercise and not just for annual strategy setting and budgeting. It should be a ritual you conduct at least every quarter and revisit regularly to update plans.
An innovation mindset is about creating an open, fresh thinking environment to challenge how you do what you do today in search of viable options. Don’t restrict who can participate in the process and incentivise all team members to contribute. You’ll be surprised by the input you get and where it comes from.
What are you doing today to sustain value and prepare for tomorrow?
At Elev8Exec we can help in all 3 areas – contact us to discuss further.
