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Business is good in nearly every sector, but business leaders still need to be aware of 10 common risks associated with rapid growth:
- Betting against the law.
(legally required activities on the back burner) - Operational infrastructure is underdeveloped.
- Product and service quality are declining.
(customer needs are obscured by growth needs) - Inability to quickly capture key data.
- The “diligence” in due diligence is missing.
(hasty acquisitions cause organizational indigestion) - Planning horizon is too short.
(“images in the mirror are closer than they appear”) - Loyalty to employees who “got us here” without accountability for results.
- Organizational focus is blurred.
- Management practices or capabilities fit yesterday’s requirements.
- Sense of invincibility.
(Titanic syndrome)
Plot the 10 Risk Factors for your business on this Priority Matrix. It will help you focus on the risks that have the highest impact but that you are currently managing least effectively.
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