At LindaShell.com and Legacy Market Services we occasionally come across an article or research paper that we believe can fundamentally impact those directly involved in the field of aging services as well as the businesses that support this industry.
Below is a summary (the Abstract) of the article. We recommend you download and read the full article.
For a variety of reasons, including demographic-, psychographic-, and government-related reasons, the seniors housing and care industry is set for tremendous change.
This change will represent new opportunities for growth, channels of revenue, and ways to add value to consumers. It will also challenge the industry’s existing business models and paradigms of thinking. This article leverages insights from business academia, including the “ambidextrous organization” concept, to suggest strategies and planning techniques to balance exploiting current business models with exploring new opportunities.
This article asserts that key elements for a successful organization in this environment include: (a) questioning core assumptions of the industry; (b) creating a compelling vision for growth; (c) initiating organizational changes to position for success; (d) introducing a vernacular for innovation; and (e) establishing accountability for today and tomorrow.