Management practices that worked in the old days shouldn’t always be counted on presently. With all the changes that have gone on in the business world, and especially in the realm of leadership, a necessary skill to have is thinking about the future. The future doesn’t mean just some 5 to 10 year plan your company has in mind, it goes far beyond that.
A great book to help business leaders learn this important skill is Gary Hamel and C.K. Prahalad’s, Competing for the Future. Hamel is the founder of Strategos, which formed in 1995 and has since been a leading consulting firm with offices worldwide. The late C.K. Prahalad was a distinguished scholar from the Stephen M. Ross School of Business in the University of Michigan but passed away in 2010. Like Hamel, Prahalad was a prevalent voice within the business world. That they wrote this together, with the share of their knowledge, makes it a great book already.
The authors themselves state that the goal of the book is to help business leaders learn how to imagine the future and then work on creating that future that they imagined. It’s not enough to just increase performance, let’s say, or restructure your company. What you ultimately learn from Competing for the Future is strategy – how to strategize and how to execute that strategy with your company’s future in mind.
Another great aspect of this book is that it isn’t just a must read for the Executives. Managers and other leaders within a company should not hesitate in picking it up. The more people within a company’s leadership team that are working and strategizing with a future in mind the better. Management teams, for example, can learn that a moving toward the future they want for a company depends a lot on just how fast the company can learn about the upcoming future in comparison to competitors.