Miracle-Making in Business and Career: Timeless Secrets for Anyone to Create a Best Possible Future
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Recently we have witnessed how some companies have accomplished great success while many others struggle to survive or even fail in the current fast-changing, turbulent environment. Many people, including academic researchers, have wondered what differentiates the winners from the losers. Although a vast number of studies on competitive advantage and winning strategies has been published in the major journals, most studies attempted to find out some success factors or underlying mechanism of competitive advantages focusing on the case where the market is already established and consumer behaviors are amassed as part of big data. Although the results of these studies are useful to maintain the existing businesses, they do not provide any helpful answers to those who want to create a new competitive space and a best possible future direction in their business or career. The purpose of this article is to provide an answer to that critical question of why some companies realize great success or a miracle while many others don’t. This article focused on what and how the great leaders did to create their best possible future even before a market was established, and therefore no consumers existed. This article shares valuable insight on how to win big for the future based on the extensive studies on miracle-making through examining a great number of business cases and the existing literature on competitive strategy or miracle-making. Based on the extensive work, this paper presents the most critical driver for miracle-making, foresight and the three step process model – (1) sense, (2) analysis, and (3) imagination and creation. It highlights several case examples including Samsung and Microsoft with the framework of the three step process. There are important implications for people who prepare for the future and want to discover and create their best possible future in their business and career
Abstract
Recently we have witnessed how some companies have accomplished great success while many others struggle to survive or even fail in the current fast-changing, turbulent environment. Many people, including academic researchers, have wondered what differentiates the winners from the losers. Although a vast number of studies on competitive advantage and winning strategies has been published in the major journals, most studies attempted to find out some success factors or underlying mechanism of competitive advantages focusing on the case where the market is already established and consumer behaviors are amassed as part of big data. Although the results of these studies are useful to maintain the existing businesses, they do not provide any helpful answers to those who want to create a new competitive space and a best possible future direction in their business or career. The purpose of this article is to provide an answer to that critical question of why some companies realize great success or a miracle while many others don’t. This article focused on what and how the great leaders did to create their best possible future even before a market was established, and therefore no consumers existed. This article shares valuable insight on how to win big for the future based on the extensive studies on miracle-making through examining a great number of business cases and the existing literature on competitive strategy or miracle-making. Based on the extensive work, this paper presents the most critical driver for miracle-making, foresight and the three step process model – (1) sense, (2) analysis, and (3) imagination and creation. It highlights several case examples including Samsung and Microsoft with the framework of the three step process. There are important implications for people who prepare for the future and want to discover and create their best possible future in their business and career
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