There’s a New Normal breaking through the ice concerning how a CEO makes decisions. The traditional linear method of forecast and response has been replaced by a new process that resembles both Special Forces field tactics and…. speed chess:
Here’s how the Wall Street Journal describes it:
Now, even though the economy is slowly picking up, those fresh habits aren’t fading. “This downturn has changed the way we will think about our business for many years to come,” says Steve Odland, Office Depot’s chairman and chief executive.
Walt Shill, head of the North American management consulting practice for Accenture Ltd., is even more blunt: “Strategy, as we knew it, is dead,” he contends. “Corporate clients decided that increased flexibility and accelerated decision making are much more important than simply predicting the future.”
Strategic Plans Lose Favor, Wall Street Journal 1.25.10
Over 90% of emerging businesses fail, but those that prevail produce over 85% of the jobs in our country. Many experts believe entrepreneurs need trusted process, as Special Forces and military aviators experience with the OODA loop, to make decisions quickly and remain maneuverable.
It’s the “Speed Chess” of decision making and it could make the difference of CEO survival in 2013; that, and recognizing the blind spots that plague most CEOs of fast-growth companies before you get stuck No Man’s Land.
Click on the picture below to see the top 3 CEO blind spots we’ve tracked while working with over 600 companies in the past four years.