Professor Donald Sull has another interesting FT article on the turbulence faced by business and the extent to which it is an opportunity.
Nevertheless, turbulence poses daunting questions for business leaders. How to lead when a dense fog of uncertainty obscures vision into the future? How to balance stability and flexibility? How to spot opportunities that emerge outside the established course of business? How to balance a portfolio to exploit existing businesses while nurturing promising new opportunities?
He notes that many companies have a Chief Risk Officer, which if any has a Chief Opportunity Officer.
But turbulence produces not only risks but also opportunities. While most newspaper executives saw the internet as a threat, Thomson Corporation recognised an opportunity in digital data and methodically divested its print properties while acquiring a series of digital businesses culminating in the merger with Reuters.
Professor Sull’s article is well worth reading in full.