CAN DOGE REVIVE AMERICA?
"Tech billionaire Elon Musk, who has vowed to dismantle thousands of federal regulations as the co-head of a new Department of Government Efficiency, or DOGE, says the nation’s financial security depends on it," reports ABC News.
Such stories are trending almost daily since the recent presidential election. Due to lack of facts and more drama it seems unwise to speculate if DOGE will accomplish it's objectives. But few lessons for businesses can be gleaned from this:
- Market realities are more complex than showmanship of cost cutting
- Historically, stable transformation tends to trump disruption in maintaining successful outcomes
Market realities are more complex than showmanship of cost cutting:
There's no denying that fiscal responsibility is crucial for any size organization. But profitable brand leadership begins to dwindle when only accounting mindset dictates revival strategies. If one is addressing dire circumstances or wrapping up their operations, an accounting approach may be helpful. However, growth oriented strategies appreciate that a brand exists in an echo system where perceptions and value for all stakeholders drives success.
When the goals are to improve and grow, investment curation approach delivers better ROI than cost cutting. Dig deeper into tangible and qualitative analytics to understand various levers of value within your brand for direct customers and stake holders. Investment curation refers to re-organizing resources and funds where the levers of value have a lasting impact on current and future growth. Cost cutting and trimming mindset is the best way to miss out on awesome profitable growth opportunities.
Accounting driven policies are the major cause of loss of several healthy industries across the country. It can provide short-term adrenaline, but a losing proposition in the long-run. History proves it.
Historically, stable transformation tends to trump disruption in maintaining successful outcomes:
In business and government disruption sounds very cool, therefore, media finds it newsworthy. Conflict sells news, and media loves it. But a deeper look at research and case studies uncovers that disruption does not create profitable sustainable business. In fact, even the disruptors need stability and consistency to thrive.
This does not mean that one adopts a passive approach as competitor landscape and market needs are changing. A successful brand can continue to grow through seamless transformation when needed. Knee-jerk reaction and pivoting with every new innovation or market trend tends to be a losing proposition. Don't let hype dictate how you evolve your brand and grow market share. Be thoughtful, be strong, and be consistent with your branding tactics.
