24 Business Engines to Adapt & Fly in 2024 | Nr.1 : Stretched Vision

Thursday, January 18, 2024

ADAPT&FLY Blog/Activate/24 Business Engines to Adapt & Fly in 2024 | Nr.1 : Stretched Vision

Why it is a top priority

A lack of a “Stretched Vision” can lead to several issues within an organization. Without a clear and ambitious long-term goal, businesses may struggle with directionless growth, stagnation, and a failure to inspire stakeholders. This often results in a reactive rather than proactive approach to market changes, leading to missed opportunities and an inability to stay ahead of the competition.

Complacency: without a stretched vision, companies may become complacent, settling for incremental improvements rather than striving for significant breakthroughs.
Misalignment: a vision that is not stretched enough can lead to misalignment between different departments, as each may pursue objectives that do not contribute to a cohesive strategy.
Lack of Innovation: a conservative vision can stifle innovation, as there is little incentive to explore new ideas or take risks.
Talent Retention: talented employees are often attracted to and retained by companies with a compelling vision for the future. Without it, a company may struggle to keep its best people.
Customer Engagement: customers are more likely to engage with brands that have a clear and ambitious vision, as it suggests a commitment to continuous improvement and excellence.
Stunted Growth: a business without a stretched vision may experience stunted growth, as it fails to set and achieve goals that expand its market share or enter new markets.
Reduced Competitiveness: in fast-moving industries, the lack of a stretched vision can quickly render a business obsolete as competitors surge ahead with more ambitious plans.
Diminished Brand Value: the brand value may diminish if the company is perceived as lacking ambition or direction, affecting customer loyalty and market position.
Inefficient Resource Allocation: without a clear vision, resources may be allocated inefficiently, focusing on short-term gains rather than long-term strategic objectives.
Risk Aversion: a company may become risk-averse, avoiding the investments in innovation necessary to drive future success.

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by Frédéric Martin

Hi, I'm the author of the ADAPT & FLY System and resources; and a business consultant, coach, and trainer based in Brussels & Paris, acting across Europe.
Get in touch 🇫🇷🇩🇪🇬🇧 Connect on Linkedin

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