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Why pay attention to trends?

acting on the trends that matter

8/14/2019 Why Trends

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RETHINK (West) Inc.

A FUTURIST

A person who isnot entirely content

with the present and is willing to

invest energy in

developing abetter alternative

Tools available:

scenario building

understandingcurrent issues andimagining them asthey play out

trend analysis

prediction/bestguess

prescription/bestsolution

8/14/2019 Why Trends

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RETHINK (West) Inc.

A PROGRESSIVE MANAGER

A person who is not

entirely content with

the present andis willing to invest

energy in

developing a betteralternative

Tools available:

vision and clear

outcomes

environmentalscan/SWOT

trend analysis

market research

new programs/services

human resources

financial resources

branding/positioning/marketing

8/14/2019 Why Trends

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RETHINK (West) Inc.

The Transformational Leader

Manager TRANSFORMATIONALLEADER

Futurist

Charles Smith,'The Merlin Factor: Leadership and Strategic Intent'

The MANAGERIAL MERLIN- a leader who lives for a prefered future and takes

action in the present to make it possible

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RETHINK (West) Inc.

Why do managers pay attention to trends

Identification ofopportunities

Early alert to

emerging threats

Warnings ofshifts in funder

priorities/interests

Indicators ofimpending resourceor supply problems

Insight to helpposition agency

on emerging

stakeholderagendas

Early indicators of shiftsin consumer interests

- marketing

TrendsIdentify emerging

best practices

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RETHINK (West) Inc.

The fundamental reason to pay attention

every product/service has a lifeexpectancy natural decline indemand should be expected as

interests and markets change, as thecompetition invents alternatives, as ourproduct becomes stale

Examples:

buggies to cars, trains to planes

political parties and/or theirplatforms

records (3 sizes), tapes (2 sizes),disks, downloads, blueray

outdoor hockey to indoor arenas

rectangular pools to leisure pools

Two strategies when decline is anticipated:

extend the sunset (add value to product) replace with an upgraded or new service

designed to deliver the same benefit

PRODUCT LIFE CYCLE

demand/profitability

time

SUNRISE

PhaseMATURITY

SUNSET

Phase

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RETHINK (West) Inc.

Id like to pay more attention

but never seem to get around to it conference sessions help/suffice

just too busy with the real stuff

not in my job description, notaccountable

Good

Intentions/No Time

Good

Intentions/No Time

Not part of myjob

Not part of myjob

To what extent do YOU pay attention to trends?

scanning system in place regular reflection/discussion

have changed as a result

have a few good sources

use trend information regularly

Manage with

Foresight

Manage with

Foresight

TrendScannerTrendScanner

SupportedTrendscanner

SupportedTrendscanner

use trend information from time to time my organization scans/feeds me

A

B

C

D

E/F

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RETHINK (West) Inc.

Help has arrived a new resource!

www.foresight-trendscan.blogspot.com