Hacking Your Future is a free weekly memo that provides readers with practical and applicable tips for uncovering their future success. Readers are challenged to re-imagine their personal and professional narratives, goals, and objectives, and re-invent their lives and work in a manner consistent with their new vision of the future.
The concept of value today is defined by both the short and long-term costs to the consumer, as consumer awareness about the quality of food and its impact on one’s health increases. This shift in the consumer perception of value is causing industry leaders like McDonald’s to make drastic decisions about their future direction and the action they must take to ensure their future relevance.
This is why leaders and organizations must be able to identify emerging trends and potential issues that could dramatically change the context upon which their current relevance depends.
Here are three things you can do ensure you’re taking future context into consideration:
- Identify the critical components that define the context of the products and services you provide today (discretionary income, weather conditions, etc.).
- Look for emerging trends and issues that could greatly impact those components, changing the context, and thereby, the overall perception of these products and services.
- Determine what action you’d need to take today if these changes were to occur.
By doing so you will help to ensure that your products and services are consistently relevant, thereby generating long-term growth both in revenue and market share.
The Fulcrum: As context changes, so do consumer’s perceptions and behavior. Leaders and organizations must use available information to detect early signs of dramatic change in order to take action before those changes occur.
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Check out my podcast series called The Futurist on iTunes.
© J.P Nichols & Associates Inc. 2014. All Rights Reserved.