Trade- offs have become a necessary part of the business process now, thanks to the constant churn in technology, workforce, and business modes. In order to derive optimum value out of such trade- offs, there are four modes of action that have been suggested. Firstly, one needs to know the trade- offs, before implementing them. It will also help understand beforehand who wins or loses in this particular round. Next, one needs to periodically review the trade- offs selected. The outcome of implementing them, must go beyond mere incremental transition. Business innovation has to be worked out around these trade- offs, in order to deliver maximum value. This will help the organization thrive within this trade- off space. Long- term goals now need to be pursued without compromising much on near- term targets.

Source:https://www.strategy-business.com/article/The-upside-of-trade-offs?gko=3468f

Uploaded Date:28 January 2020