Now as we break out of the GFC and opportunities abound, Opportunity Management is vital. Read on about getting your Opportunity Management into shape and contact us if you would like some help.
Are you Managing your Opportunities? Ask yourself these three questions:
Do you have a Strategic Risk Profile prepared in consultation with your Executive?
Did you consider Opportunity Risks such as:
- Inaction (complacency, fear of failure)
- Deal flow (identifying enough opportunities but not too many), and
- Selection criteria (which deals are the right ones and why)?
Have you considered how you can improve your Opportunity Management in the future through:
- Horizon Scanning
- Scenario Development
- Innovation Risk Assessments
- Cost of Risk Optimisation
These 3 blue-chip companies are examples of highly successful organisations that could have benefited from improved opportunity management.
- IBM failed to forecast technological changes with the shift away from mainframe computers and then the move into enterprise software solutions
- Kodak was a late entrant into digital photography and as a result substantially lost its position of leadership in the marketplace.
- Microsoft’s focus meant they missed market opportunities the iPod, iPad, Blackberry and Kindle are now filling.