(Reading time: 4 minutes)<\/em><\/p>\n What is considered risky or risk-free is usually reversed in the digital transformation. In the “pre-digital transformation era”, for example, investments in new initiatives and products often represented a high risk. <\/p>\n Today, however, it is more the case that waiting to make investments represents the greater danger. This is because existing, traditional offerings are increasingly being replaced on the market by digital or digital-supported offerings. I often hear from decision-makers that this development will not happen so quickly and that they have time. I generally agree with that. But all too often people forget that other influencing factors can also play a role. <\/p>\n If a market suddenly tightens rapidly due to external factors, for example, it is always better to have the more competitive offer on the market. What previously appeared to be a long-term development in such situations can quickly turn into high market pressure. <\/p>\n I wouldn’t advise any undue haste. I also think that as entrepreneurs we have enough time to further develop our business models. However, when I say “enough time”, I don’t mean the “enough time” of the 1980s, but that of today. <\/p>\n<\/div>\n<\/div>\n<\/div>\n When people talk about time frames in the context of corporate development, I always shudder a little when I hear about 5-year plans. Traditionally, I see these as almost an anachronism today. <\/p>\n Because it seems crystal clear to me that this plan will have to be fundamentally adjusted at some point. Five years has become a long time in which a lot can – and will – happen. <\/p>\n<\/div>\n<\/div>\n<\/div>\n On the other hand, and this is what makes it so complicated, more strategic attention must be paid to the long term.<\/p>\n “Long-term short-sightedness” must be replaced by “short-term long-sightedness”.”<\/p><\/blockquote>\n<\/div>\n I am also of the opinion that most companies today make the mistake of planning too long operationally, but lack the foresight for technological and social changes. As a result, the major underlying trends are overlooked and long-term planning is undertaken with almost no strategic basis. A classic example is the definition of a desired market position as a strategic goal. A la: “We want to be the market leader in area xy in five years’ time”. You can set yourself a lot of goals. And yes, you should. But I also believe that you should base your decisions on fundamental changes in the environment. Like riding a wave. <\/p>\n<\/div>\n<\/div>\n<\/div>\nHesitant today means dangerous<\/h3>\n
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<\/p>\nThe 5-year plan<\/h3>\n<\/div>\n
Don’t lose sight of the long-term horizon<\/h3>\n