Success has the habit of breeding complacency, which can put an end to a business’s run of good performance. In this article Emma Riddell speaks to senior business leaders to find out what can be done to ensure executives stay focused.
Key points include:
Be alert to seismic changes, such as making an acquisition, and be aware of the risks and rewards they bring.
Decision-making structures that allow you to act with agility are useful in the good times but will become critical should problems arise.
A healthy business can learn a lot from adopting the discipline of turn around style cashflow forecasts, and then using them to drive operational decision making.
A chief executive needs the ability to stay objective when evaluating the leadership team.
Organisations should look to their risk registers to help them identify where any “unexpected avalanches” may come from.