| Word Count: 1,456 Estimated Read Time: 6 Min. |
It is not uncommon for a company to face one or more deeply complicated, intertwined and seemingly unsolvable problems. The enormity and complexity of such challenges can feel so overwhelming that some business leaders bury their head in the sand and hope the problem resolves or goes away. For recent examples, we need only look at look at Kodak, Borders, Bed Bath & Beyond, Radio Shack, Sweet Tomato, Blockbuster, Circuit City, and Toys R Us.
In the US, the today’s problems can indeed feel enormous and untenable. Cybersecurity attacks by hackers who are increasingly savvy. Compliance challenges imposed by governments. Marketplace unpredictability. Economic instability. Obsolescence due to AI and Blockchain technology. Political upheaval. Shrinking labor pool due to a 50% surge in new business applications and massive deportation of immigrants. Even one of these problems can sink a small or mid-sized company. More than one can torpedo even a large, sophisticated company. Part of the challenge with such thorny problems is that it can become difficult for leaders to plan and execute. But, as the saying goes, when you fail to plan, plan to fail. So what’s a company to do? To find a way forward, it helps to start by considering the past.
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