TIME PACING COMPETING IN MARKETS THAT WONT STAND

TIME PACING: COMPETING IN MARKETS THAT WON’T STAND STILL • TIME PACING: a strategy for competing in fastchanging , unpredictable markets by scheduling change in predictable time intervals • e. g. , Intel >> builds factories two years in advance of demand • may be used by small or large companies, hightech or low-tech companies • >>>>Important in markets that won’t stand still

TIME PACING. . . • Time Pacing Vs. Event Pacing • Event Pacing>> more traditional; responding to events, seasons, etc. ; more reactive and often erratic strategy • Time Pacing>> more creative and proactive • >>>important psychological impact within corporation

TIME PACING. . . • Two critical, but often neglected processes essential for success in changing markets – 1. MANAGING TRANSITIONS • often ignored; involves executing and integrating changes into the company • particularly important in fast-changing markets • the best transitions help managers to learn, reflect, change direction, and accomplish other goals • transition processes vary from company to company

TIME PACING. . . • 2. MANAGING RHYTHMS – rhythms help people plan ahead and synchronize their lives. 3 -M>> 30% of revenues must come from new products – Must be aligned with the right rhythm of the marketplace – Often very rapid, only some companies will be able to keep that pace; it is important to choose a manageable pace

TIME PACING. . . • Change by itself does not guarantee success – Constant change may not be what is needed for success – sometimes you need to stop and wait for the right moment; time pacing should reflect such realities as well