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New Study Uncovers the Importance of Mastering Your Business's "Adaptability Quotient"

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New Study Uncovers the Importance of Mastering Your Business's "Adaptability Quotient"

PR Newswire

CHARLESTON, S.C., July 24, 2018 /PRNewswire/ -- Advantage|ForbesBooks, the Authority Marketing specialists, released a new study exploring the under-examined concept of the Adaptability Quotient (AQ), and its pressing role in the life–or death–of a business.  The study unpacks the importance of adaptability in today's turbulent market and shows business leaders how raising their AQ effectively secures future business growth.

The paper, titled "Adapt or Die: Why Corporate Giants Failed, How to Make Sure You Don't," provides an overview of the AQ's vital role in the sustainability of success. Defined as "the ability to adjust course, product, service, and strategy in response to unanticipated changes in the market," AQ has been identified as "the future of work" by Fast Company magazine and the "new competitive advantage" by Harvard Business Review. CEOs who intend to stay afloat in the current economy must make a fundamental strategic shift toward cultivating adaptability, as the paper explains.

The significance of the AQ is illustrated by dissecting the demise of once-formidable organizations like Blackberry, Blockbuster, and RadioShack. The profound failure of these former behemoths all link back to a common miscalculation (albeit not the only one): that is, the inability to adapt and the ignorance of their AQ.

"The 'elephant graveyard' of business is filled with the bones of what we once assumed to be indestructible giants of industry," says Advantage|ForbesBooks CEO Adam Witty. "But those graveyards are also filled with lessons.  As a business owner whose job it is to work with other businesses on the growth and health of their companies, I have spent a lot of time trying to understand the razor's edge between success and failure. My team and I have discovered that a critical yet overlooked ingredient is a company's Adaptability Quotient. This white paper shares that insight."

The paper concludes with a series of actionable takeaways, including:

  • "Don't develop a product that hinges on the static positioning of a dynamic/changing audience."
  • "Be permanently alert when you assess your competition."
  • "Get a different pair of eyes on your product or service."
  • "Adapt even if it means stealing from your competitors."

To view of copy of the research paper, advantagefamily.com/AQ.

About Advantage|ForbesBooks
Advantage|ForbesBooks is the Authority Marketing specialist. Working with business professionals to elevate their brands and grow their businesses through publishing, the company is one of the largest business book publishers in America, serving over 1,000 members in 40 U.S. states and 13 countries.

Press Contact: Andy Shearer / ashearer@advantageww.com

 

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SOURCE Advantage|ForbesBooks

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