JLBC LEADING THROUGH CHALLENGES


JLBC LEADING THROUGH CHALLENGES

JLBC Developing entrepreneurial skills

Entrepreneurs exhibit many important traits and crucial skills that you can examine and develop to benefit your organization. Most entrepreneurs are risk-takers, goal-focused, and determined—all characteristics you can learn. When looking for new ideas, examine your organization first: can you exploit existing assets?

In a fast-changing world, is your organization able to adapt quickly? As you search outside your company for emerging trends and products, remember to apply SWOT criteria to test and assess your decisions.

Where to look for entrepreneurial ideas

JLBC UNDERUTILIZED INFORMATION OR ASSETS

○ Can we sell our information externally?

○ Can we get better performance by outsourcing?

○ Can we lease our assets?

○ Can we repackage our assets using emerging technology to create new products?

JLBC WAYS TO CHANGE THE BUSINESS MODEL

○ Will acquisitions boost our capabilities?

○ Can we cut out the middle man?

○ Should we support employee spin-offs?

○ Can we replace on-premises solutions with more cost-effective cloud-based ones?

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