A conversation with my colleagues about the latest Netflix additions reminded me of the company's savvy move in the early 2000s—the launch of its streaming service.
Companies may be in more trouble than they're aware of when it comes to adapting to change. While executives recognize the need for adaptation, a September 2023 Economist ImpactOhio Voters Approve Measure Legalizing Recreational Marijuanaof digital transformation efforts failing to meet ROI objectives, according to McKinsey, companies must address these challenges head-on to thrive in an era where adaptability is paramount for survival and success.
Strategy development and implementation are impossible without the ability to effectively set and monitor goals, with 86% of executives expressing disappointment in overall accountability for strategy implementation. In my own experience within my company, I've found success by increasing the frequency of all-hands meetings with longer Q&A sessions and a focus on micro-watch parties across our global offices for in-person connection. Furthermore, I maintain an open line of communication through platforms like Slack, making myself and the rest of our leadership team accessible for any clarifications or queries from all team members at any time.