In this recession's aftermath, CEOs face unique threats and opportunities

ISSN： 1087-8572

Source： Strategy and Leadership, Vol.38, Iss.4, 2010-01, pp. : 27-33

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Abstract

Purpose ‐ As the tide of recession recedes, CEOs should consider potential changes in the business environment, make a list of emerging threats and review how firms in other industries have successfully employed new innovation concepts in response. this paper aims to address this issue. Design/methodology/approach ‐ The paper points to three worrisome trends that CEOs need to watch, and offers some suggestions for finding opportunistic ways to address them. Findings ‐ In the midst of the doom and gloom of a severe recession, when optimists grab the spotlight by pointing to signs of recovery, the author warns that there is too little attention paid to the pessimists' warnings of persistent low growth or a period of stagnation. Practical implications ‐ The opportunity initiative for CEOs: establish a formal process that demands continuous innovation in every stage of the value chain. Originality/value ‐ The paper identifies clear imperatives for the CEO today: learn to manage transparency amid the chaos of the internet; re-examine assumptions about customer beliefs, values, attitudes, and needs; sweep away the vestiges of your firm's "not invented here" culture; take advantage of willing collaborators among the firm's external virtual community; concentrate on innovation across the entire value chain; and be the disruptor not the disrupted.