In today’s fast paced, fast changing world, executive teams should adopt a "both/and" approach to evaluating new strategic business opportunities, where they continue to exploit existing businesses even as they explore new ones. Success will require a degree of comfort with such a paradox, complete with its inherent tensions.
Some leadership teams are better equipped to cope with the paradox and complex business models than others. Those teams share a few important attributes:
- They make decisions dynamically — remaining open to various options depending on context and events.
- They commit to an overarching vision and agenda specific goals.
- They actively seek to learn about each agenda and the relevant relationships.
- They readily engage with conflict.
When leadership teams possess these attributes they can "host" contradictions, rather than fight them.
Whether the leader takes responsibility for managing the paradox or the team takes collective accountability — leaders can support tensions, rather than seek resolutions that could limit a company's long-term strategic opportunities.
