When your organization is moving fast to develop a new idea, technology, application or service, it is incredibly important to keep an eye on emerging business risks that can divert your resources or even stop your efforts. These risks can come from hidden sources and may arise quickly. Do you understand your Intellectual Property Portfolio and are you prepared to defend it? Are your information systems secure? Do you understand the upstream and downstream liability issues with your products and services? Are your employees and leaders acting in the best interest of your company? Do you know all of your compliance requirements? Are you "leaking money" within your operations and expense structure? Can any single employee leave and take the whole "story" with them?
Looking at your business; if you are developing a fantastic idea, product or service that adds significant value compared to the next best alternative, the "competitive clock" starts ticking at the moment your competition realizes what you are doing. There are many ways your competitors can shorten your lead time, either through aggressive development, recruitment of your key team members, casting aspersion on your solution or even IP and Legal challenges. When the moment comes that you reveal your offering to the "world", consider the tools you will need in your "toolbox" to maintain your leadership position.
A fresh set of "eyes" can often spot trouble where it may be hidden in plain sight within your organization. Questions can be posed without organizational repercussions and perspectives can be gathered independent of the standing organizational structure of the team.
Posing the right question can save millions of dollars and keep major programs on track. This is what we are all about at Garnet Peak Associates.
John Kent Read more at www.garnetpeakassociates.com
In business, not all risks are clearly marked.