I love cars and I love driving fast. For my next birthday I’m taking the family go-kart racing! But as an innate environmentalist that doesn’t make sense. Fuel-filled adrenaline is not good for the environment I hear you say. Yep.
As Formula One racing has increased its presence around the globe with more races every year, is it time the organisers started to think about their environmental footprint? Possibly by increasing their presence and their following they have been attempting to ‘futureproof’ the industry, but is the CEO’s drive for growth sustainable? The future of car racing might be facing some interesting dilemmas before too long.
What conundrum could your industry be facing in the near future?
In the last few years, one of my clients has adapted their business to move from putting telecommunication cables into the ground to pulling them out! As a key player in recycling redundant cables, they are still in the business of enhancing our telecommunications networks but have had the agility to respond to customers’ needs and the resilience to shrink and expand like a spring (see last week’s article) in response to market and technology changes.
GROWTH MINDSET NEEDED TO RESPOND
In my upcoming book 10% Better, I explore 3 pillars for longevity in business – Inspire, Empower, Enhance. In the Inspire pillar the book looks at how understanding your core business is essential to keeping your organisation from being distracted. In Empower I talk about systems and capability. However, it is the Enhance Pillar that requires a growth mindset to ensure the business has processes for monitoring and responding to information from both internal and external sources to is continually enhance performance. This is key to being both resilient and agile into the future.
Are you ‘future-proofing’ your organisation?