While facing growth and achieving success, companies and managers often introduce more policies, more new ways and means of extracting profits, focus becomes internal, the company loses touch with its customers and suddenly they are faced with markets decreasing.
\nThe moment companies start to \u201cforget\u201d their customers is when they should redefine their strategy and shift focus. How do companies \u201cforget\u201d about their customers?
\nWell, for the same reasons they forget about their \u201cfirst-lines\u201d or education. They follow others,look only at data from their market research and believe they have everything figured out because they are growing and are successful (at the moment).
\u201cCurse of success\u201d\u00a0is the reason why companies fail over and over again. The more a company is successful, greater the confidence and greater the prob\u00adability of failure because they stop questioning and redefining every\u00adthing, human capital development becomes a cost-efficiency machine and innovation becomes a random event caused by luck.
\n\u201cFirst-\u00adlines\u201d are companies`inter\u00adaction points with the customer throughout their customer journey. Companies often perceive \u201cfirst-lines\u201d as commodities, where they should actually be one of the differ\u00adentiation points bringing that added value for every customer. \u00a0It is exactly the same with education. Companies often perceive it as a \u201cnecessary evil\u201d and a commodity, where actually it offers a continu\u00adous possibility to question the world around and look for new opportunities.
\u201cFirst-lines\u201d and education are similar. You have to in\u00advest in them constantly to potentially achieve future benefits from a happy, loyal customer or manager\u00a0that will redefine your business or create innovation.
\nIf you don`t, you`re potentially fac\u00ading negative perception, unsatisfied customers and employees ignoring change, growth and new opportu\u00adnities. Either way, if you ignore them, you`re probably influenced by the magic spell called \u201ccurse of success\u201d. One that makes both big and small companies disappear and rich people poor. Good thing there`s a cure. Look it up at www.innovation-institute.eu.
The post Curse of Success \u2013 The Reason Companies Fail appeared first on SEE Business travel & meetings magazine.
\n", "content_text": "Company growth is a wonderful thing. Start-\u00adups developing on a huge scale, established companies penetrating new markets and developing new products while large corporations create significant regional or global impact with what they do best. There is one problem.\nWhile facing growth and achieving success, companies and managers often introduce more policies, more new ways and means of extracting profits, focus becomes internal, the company loses touch with its customers and suddenly they are faced with markets decreasing.\nThe moment companies start to \u201cforget\u201d their customers is when they should redefine their strategy and shift focus. How do companies \u201cforget\u201d about their customers?\nWell, for the same reasons they forget about their \u201cfirst-lines\u201d or education. They follow others,look only at data from their market research and believe they have everything figured out because they are growing and are successful (at the moment).\n\u201cCurse of success\u201d\u00a0is the reason why companies fail over and over again. The more a company is successful, greater the confidence and greater the prob\u00adability of failure because they stop questioning and redefining every\u00adthing, human capital development becomes a cost-efficiency machine and innovation becomes a random event caused by luck.\n\u201cFirst-\u00adlines\u201d are companies`inter\u00adaction points with the customer throughout their customer journey. Companies often perceive \u201cfirst-lines\u201d as commodities, where they should actually be one of the differ\u00adentiation points bringing that added value for every customer. \u00a0It is exactly the same with education. Companies often perceive it as a \u201cnecessary evil\u201d and a commodity, where actually it offers a continu\u00adous possibility to question the world around and look for new opportunities.\n\u201cFirst-lines\u201d and education are similar. You have to in\u00advest in them constantly to potentially achieve future benefits from a happy, loyal customer or manager\u00a0that will redefine your business or create innovation.\nIf you don`t, you`re potentially fac\u00ading negative perception, unsatisfied customers and employees ignoring change, growth and new opportu\u00adnities. Either way, if you ignore them, you`re probably influenced by the magic spell called \u201ccurse of success\u201d. One that makes both big and small companies disappear and rich people poor. Good thing there`s a cure. Look it up at www.innovation-institute.eu.\nThe post Curse of Success \u2013 The Reason Companies Fail appeared first on SEE Business travel & meetings magazine.", "date_published": "2016-11-08T15:00:11+01:00", "date_modified": "2016-11-08T15:00:11+01:00", "author": { "name": "Mirjana Novitovic", "url": "https://www.seebtm.com/en/author/officebs/", "avatar": "https://www.seebtm.com/wp-content/uploads/slika-.jpg" }, "image": "https://www.seebtm.com/wp-content/uploads/Slika-4.jpg", "tags": [ "curse of success", "education", "inovation institute", "zagreb", "Trends" ] } ] }