Defining Victory

Jockey Jesus Lopez Castanon, riding Shackleford, celebrates as he crosses the finish line winning the 136th Preakness Stakes in Baltimore on May 21, 2011. UPI/Kevin Dietsch
Is your business capable, challenged or lost?

 
 
Jockey Jesus Lopez Castanon, riding Shackleford, crosses the finish line to win the 136th Preakness Stakes in Baltimore. Photo: UPI

 

In the first part of this three-part series on entrepreneurship and the CIO by Jorge L. Lopez of the Gartner Group, we explored the definitions of an entrepreneur and entrepreneurial tasks. Now, we consider a simple but vital question: How does the CEO know when it’s time to focus on entrepreneurship? 

[See Part 1: Risky Business  >

CEOs have many things vying for their attention and investment. How do they know whether they need to focus on entrepreneurship as the most important or decisive choice? To answer that, one must answer the key question for CEOs: If the business were to continue in its current direction, with no substantial change to its products and service offerings, what would be the outcome?

The answer to this question falls into one of three categories: competitively capable, competitively challenged, or competitively lost.

\Competitively Capable

The competitive landscape is progressing slowly enough that there will be no significant change ahead, so very little change is needed. This may be more because of regulatory constraints than competitive forces. Focus on sustaining the quality that exists for current offerings. There is little need for the driving forces of the entrepreneur in such stable situations, unless the strategy is to build a breakaway situation for the business and drive the change in the market or industry.

 

 

RELATED POSTS

Hispanic Business Leadership for Uncertain Times

Hispanic Business Leadership for Uncertain Times

How to make delusional optimism work for your Hispanic business this year Congratulations to you and your business if you are in a position to grow your business and bring in a new employee as we progress into this new year. Thank you for your decision to take the...

Reclaiming Our Life In the Age of Technology

Reclaiming Our Life In the Age of Technology

Implementing a digital detox doesn't require drastic measures, but has multiple benefits In an age where technology infiltrates every facet of our lives, the importance of a digital detox has become increasingly apparent. This concept of consciously stepping away from...

Your Brand Is Not What You Think It Is…

Your Brand Is Not What You Think It Is…

Let’s talk about FEELINGS... If you look at today’s marketing and business headlines, there is a lot of chatter about BIG data and AI - it’s everywhere. This compelled me to recently tweet the following “It’s all about BIG data these days but we must never forget the...

Video Gallery

Polls

Sign Up for the Latin Biz Today Newsletter

PR Newswire

Featured Authors

avatar for Wilo BenetWilo Benet

Wilo is a 40-year career veteran now dedic...

Try Chef Wilo Benet’s Excellent Octopus Salad [Recipe]

Innovation & Strategy

Money

Talent/HR

Legal

Marketing

Mi Mamá Es Una Brava

Mi Mamá Es Una Brava

She was fierce, unapologetic, unselfish and brava. Editor's note: This is a reprise piece from Gaby Alcantara Diaz remembering her late parents and brother.   Over 21.2 million (all) immigrant women reside in the United States since 2013 with many traveling by foot,...

Culture

Fashion

Food

Music

Sports

Work & Life

Mindfulness

Health & Fitness

Travel & Destinations

Personal Blogs

Pin It on Pinterest