Assignment:
The briefing
You have decided to leave your organization tomorrow to set up your own business in competition with your large, out-of-date, slow-moving, bureaucratic former employer.
You have identified your organization's main weaknesses and vulnerabilities. Critically, you have worked out how a combination of digitization technologies and social networking tools could be used to undermine your organization's traditional business model. Or, customers may have "after-market" needs that your organization is not fulfilling.
Describe your new business model. What digital tools and social media technologies will you use to attract customers or clients from your previous employer to your business-and perhaps from other organizations in the sector? How quickly can you set up this business? What will it cost you to set up this business?
The briefing
OK, you are not leaving the organization after all. That briefing was designed to make you think about potential threats to your organization from agile and innovative "out of sector" competitors. Let us assume that the new business model you have just described is actual and that somebody else has already thought about it-and may already be setting it up. How can your organization respond to that threat? Better still, how can your organization counter that threat before it emerges?
Draw up an internal action plan for transforming the organization's current business model or creating a separate unit or division to develop your new business model alongside the existing one.