July 2024 Part 13: Let's reform management when things are going well

When things are going well, managers often tend to think things like, "I'm right," "The way we're doing things now is fine," or "It's better not to change the methods that are working well."
However, markets change. If you are doing well now, it is only because the market you entered is growing, and it may go into decline in the future.
Also, rumors may spread that "this market is doing well," and many companies may enter the market.
Rival companies may launch new, attractive products or services and steal your customers all at once.
If you get complacent when things are going well, you might find yourself caught off guard. Employees with know-how might leave the company to go independent or move to a competing company. Before you know it, your company's organization might be in tatters and you might lose your competitive edge.
If you try to reform your business in a hurry after things start going bad, it's not going to work out. When things are going badly, you'll be in financial difficulty, and it will be difficult to reform.
When things are going well, it's time to pull yourself together and reform your management. Prepare for future changes in the market. Work on developing new, more attractive products and services. Work on improving employee management and the organization.
Companies that continue to grow continue to innovate. By continuing to innovate, you can pave the way for continued growth. Especially when things are going well, it's an opportunity to innovate management.

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