Plan for the future, act today
A long-term vision combined with the capacity and the willingness to dare to change will be the key differentiator for successful companies in the coming years. Because one thing is certain, doing more of the same will not be enough. The challenges that lie ahead will not be overcome with small, incremental improvements alone. We saw this during the corona crisis, and in light of current economic and social developments, foresight, just like change capability, will become more important.
Opportunity
Continue to invest in innovation initiatives. The biggest risk you run right now is to turn your gaze inward. When existing revenue models are under pressure, leadership and courage are key factors for the successful introduction of innovative ideas. To enter new markets, to appeal to new target groups or to develop new propositions. How far ahead should your company look? McKinsey's 'Three horizons' model provides a practical structure for distributing focus and assets:
Horizon 1 – Small steps that ensure continuous innovation of the existing business model and the daily business processes.
Horizon 2 – Extending the existing business model to new customers, markets, or goals.
Horizon 3 – Creating new opportunities to explore uncharted territory. These are disruptive innovations with the potential to create new markets.
Each horizon requires a different focus, different management, different tools, and goals. In the past, delivery times were linked to each horizon: 6-12 months, 1-3 years and at least three years. Today, these horizons are no longer time-bound. Another way to look at this model is from the perspective of the ambition that you set yourself as a company. How high do you set the bar? Are we going to improve our current game (horizon 1), are we going to change the rules (horizon 2) or are we going to create a whole new game (horizon 3)?