Visioning Exercise

DON’T PANIC, TURN THINGS AROUND

Back in 1970s-80s Intel mainly manufactured dynamic random access memory chips, instead of microprocessors for which it is popular today.

The sudden increased competition from Japanese semiconductor manufacturers dramatically reduced Intel’s profits and posed a serious threat.

The then-CEO Andrew Grove took this opportunity to dive into the field of microprocessors and change Intel’s entire business model.

Business leaders shouldn’t go into shock if their businesses start facing crises.Instead of going under, they should use these points in time to think out-of-the-box-ically and completely turn their business around if needed.

BE A VISIONARY

Steve Jobs, the man behind making Apple Inc. what it is today, is rightly called as being the King of Visionaries.

He didn’t like being slow, he was fast in terms of thinking; well ahead of others about what the future would require.

He brought out products in the market like the iPod and the iPhone which were first of their kind and truly game changing.

Anticipate the future needs of your customers and work on those areas, so that when the time comes you can deliver one-of-their-kind products.

BE A MOTIVATORSteve Jobs was also known for his ‘Reality-Distortion-Field’.

He could make people work on things and produce results which were thought of as ‘impossible to achieve’.

He had an aura around him which motivated people to work hard more than mere mortals and do jaw-dropping feats.

Motivate your colleagues to not just do the ‘minimum-criteria-passing-work’ but ‘setting-a-new-benchmark-type-of-work’.

They’ll feel inspired and will work hard, and will do things that they never thought they could.

CATERGORISE GOALS

Categorize your goals into short term and long term goals:-

Short term goals will define what your business is about and what it does. They will help you in thinking clearly about your current strategies.

Long term goals will define your business’ image in front of your customers and will give you the maximum profits. Your business model can change drastically over a period of time and long term goals will help you in dealing with them.

In this technology driven world, it would be stupid not to use technology to boost up your business growth and market recognition.

Websites like LinkedIn, Facebook, Twitter, Google can help you in establishing your company in the minds your potential customers as the go-to provider.

If your company is technology oriented then, only being up-to-date with the current technology and infact inventing new technology will keep you in business.

USE TECHNOLOGY

HAVE KNOWLEDGE OF YOUR RIVALS

In the last past decade, Intel Corp. devoted its resources and time mainly on desktop oriented microprocessor chips. It didn’t put in much effort into mobile oriented processors and thus now it lags in this field, while companies like AMD, Qualcomm and MediaTek have made huge advancements and are ahead of Intel atleast in this area.

It’s extremely important to have knowledge of your rivals’ current market share, their profits, losses, their target areas etc. and make changes to your business strategies if required.

BE HONEST

In this competitive market scenario, it is easy to lose your integrity.

Don’t adopt dishonest quick profit making methods.

The truth will come out sooner or later and it will immensely hurt your credibility and your reputation.

Be honest to yourself and to your company and encourage others to be so.

There is no alternative to working hard.

To achieve limitless success, jaw-dropping profits, and staggering growth you and your entire company has to work hard, even the watchmen and sweepers.

And not just work hard (it won’t be profitable to working hard at pushing tables around all day at the office), its important that you work smartly.

Smartly means, identifying things that will actually make an impact and contribute towards the growth of your business.