Find your Competitive Edge in 2014 featuring Rita McGrath - The End of Competitive Advantage
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Find your Competitive Edge in 2014 featuring Rita McGrath - The End of Competitive Advantage

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Rita McGrath was named the sixth most influential business thinker in the world and one of the top 25 smartest women on twitter. You can see her live (or via webcast) on January 30th at the BWI ...

Rita McGrath was named the sixth most influential business thinker in the world and one of the top 25 smartest women on twitter. You can see her live (or via webcast) on January 30th at the BWI Airport Hilton in Maryland.

All participants will get a copy of Rita's book, The End of Competitive Advantage.

This special four-hour session will feature Rita talking about her latex book and research around how to thrive in an era of "transient advantage". She will be followed by a panel of C-level executives and a special collaboration session with all participants working ion their competitive playbook for 2014 and sharing their insights wit the group.

Registration and details can be found at http://www.blionline.org/rita

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Find your Competitive Edge in 2014 featuring Rita McGrath - The End of Competitive Advantage Find your Competitive Edge in 2014 featuring Rita McGrath - The End of Competitive Advantage Document Transcript

  • MACPA’S STATEMENT January 2014 | Maryland Association of Certified Public Accountants, Inc. Rita McGrath & the End of Competitive Advantage Page 6 ALSO INSIDE Tax season: Roll with the changes PAGE 24 The new financial landscape for same-sex couples PAGE 27
  • You can thrive in complex times Our problem isn’t change; it’s keeping pace. Best-selling business expert Rita McGrath will show us how in a can’t-miss event on Jan. 30 BY BILL SHERIDAN To hear the experts tell it, the biggest with outdated methods. They’re trying to Aaron Wildavsky for this one. Most issue facing businesses today is change. predict their way out of an unpredictable organizations today invest in prevention – situation. trying to keep bad things from happening Wrong. to them. McGrath said we need to invest “One of the dilemmas we all face,” Change isn’t the problem. Things have more resources in what Wildavsky called McGrath said, “is that we are trying to always changed. The problems are the “resilience,” a trait that will help us grapple with truly complex systems by staggering pace of change and our “mount the appropriate response” when using tools and frameworks that were inability to catch up. something goes wrong. designed for more simple, more linear Businesses don’t need to know that the systems.” That point of view requires an eye toward innovation. Don’t be afraid to try new world is changing. They need to know So what do we need to do? Four things, what to do about it. things. If they work, great. If they don’t, says McGrath: respond accordingly and try again. For that bit of information, let’s bring in 1. FORECAST DIFFERENTLY “Start making small bets on things that Spend less time on lagging indicators are not part of your core business,” like yesterday’s numbers and outcomes. McGrath said. “Then ask yourself: Who Spend more time on leading indicators are your truth-tellers – the people who are like data that offer clues about what the able to look at the future and articulate future holds. cases where things are going to be much Rita McGrath. A Columbia Business School professor and best-selling author who is sixth on Forbes’ most recent list of the world’s most influential business thinkers, McGrath will speak live in Baltimore on Jan. 30 as part of “The End of Competitive Advantage,” an event hosted by the MACPA and the Business Learning Institute. The event is named after McGrath’s most recent book, The End of Competitive Advantage: How to Keep Your Strategy Moving as Fast as Your Business. Get details and register at BLIonline.org/Rita. McGrath’s message will focus less on change and more on our reaction to it. She says too many organizations are trying to solve today’s complex problems 6 different than it is today?” “Leading indicators are the hardest to find,” McGrath said. “The problem is And if the people in power aren’t truth- that they are subjective; they’re not facts tellers, watch out: This could be a difficult yet. But they also give us some distant exercise. early warnings about things that might happen.” 3. ALLOCATE YOUR RESOURCES DIFFERENTLY Here’s an exercise we can try: Imagine Sure, we need to focus on our core a future event – something that’s either businesses. But in this crazy environment, good or bad for your organization. Now McGrath said it’s critical that we also imagine what would have to happen first devote some time and energy to in order for that event to take place. Ask innovation identifying opportunities, yourself: “Can I see the signs that will tell thinking of things we’ll want to invest in, me if that is happening now?” figuring out how to ramp them up and 2. TAKE ON INTELLIGENT RISK make them scalable. McGrath channeled political scientist STATEMENT
  • That means we’ll also have to spend some time on what she calls “disengagement” – figuring out what we should stop doing so that we’ll have the time and resources to devote to innovation. And here’s the most important thing: Your superstars need to be innovators. “Average organizations put their best people on problems,” McGrath said. “Exceptional organizations put their best people on opportunities.” DON’T JUST SURVIVE. THRIVE. In times like this, when change and complexity fuel massive uncertainty, many companies take the safe route and concentrate not on growth, but on mere survival. Big mistake, says McGrath. “As a leader, you want to be thinking about the future at all times, and that does require some A series for financial professionals in Business & Industry QUARTERLY FINANCIAL LEADERS FORUM Shape y our organiza t ion for bet t er re s u l t s . investment,” she said. “An analogy would be to think about sending your children to college. I have absolutely no idea what those children are going to do once they’re done with their degrees, but I know that if I don’t make that investment in their education, there will be whole sets of opportunities that won’t be open to them. When you stop thinking about growth, it’s sort of the same as not investing in education, not investing in things that will give you a future.” “Think of it a bit like momentum,” she said. “If you start a race from a dead stop, you’re much less likely to get up to speed fast than someone who’s already moving. With growth, you have a similar phenomenon. Those who start making those investments today – those who start removing some of the structural barriers (to growth) – are going to be that much more in motion than companies that have been at a dead stop for the past few years. “Plus, it’s more fun. It’s more fun for your people, it’s more fun for yourself to be thinking of doing something new rather than the same old thing. Once you’re focused on growth, people start to see opportunities more readily because they’re actively thinking about it. People are less likely to cling to the past if they see that there are opportunities in the future that they could be going after.” Getting past the barriers of change and complexity and focusing on growth has all Bill Sheridan is editor of The Statement and kinds of benefits, McGrath explained. chief communications officer for the MACPA. CHANGE EFFORTS THAT STICK Aug 29, 2013 // Gretchen Pisano // Event ID: 170000 macpa.org/QFLFaugust CHALLENGES FOR FINANCIAL PROFESSIONALS Nov 21, 2013 // Francis X. Ryan // Event ID: 170001 macpa.org/QFLFnovember MACGYVERING: THE ART OF BEING RESOURCEFUL IN A CRISIS Feb 27, 2014 // Greg Conderacci // Event ID: 170002 macpa.org/QFLFfebruary SMARTER DECISION-MAKING May 22, 2014 // Jennifer Elder // Event ID: 170003 macpa.org/QFLFmay 4 hours of CPE each quarter to share and learn with other experienced financial leaders. AGENDA: 8-11 am – topical instruction, 11-12 noon – lunch and facilitated discussion LOCATION: Towson Training Center PRICING: Members: $175/forum • Non-Members: $225/forum 7
  • L I V E EXPERIENCE A NEW APPROACH TO BUSINESS MODELING, STRATEGY, INNOVATION, AND GROWING REVENUE IN THESE DISRUPTIVE TIMES. AS AN INTRO TO THE EVENT, RITA WILL ALSO BE LEADING THESE 4 WEBINARS: