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My Introspective

by Laurus Nobilis
My BrainCast

Human Resources

Basic Skills: Opportunity Assessment (E)

 

Opportunity Assessment

 


What is the role of opportunity assessment in business? What are the tips for development of opportunity assessment?

 

Posted: Jul 2009


 

 

 

Opportunity Assessment is the skill that is part of Ability to analyze group of basic skills.

Opportunity Assessment is important for different  positions, from commercial manager, to general manager.

Definition


Identifies opportunities to increase individual and organizational results while reducing the possibility of threats.

Key Behavioral Indicators

  • Develops new perspectives and innovative ideas into actionable plans and encourages others to do so as well.

  • Acts in response to changes in the external environment

  • Explores opportunities fully to understand its potential benefits and risks

  • Recognizes patterns and trends.

  • Uses and builds on knowledge of changing situations with an “improvement focus”.

  • Selects and develops activities which will result in the largest, long-term returns

  • Ties shorter-term objectives and plans to the broader strategic direction.

  • Effectively projects the impact new ideas will have on the marketplace in the short- and long-term.

  • Creatively envisions ways to grow and improve the organization beyond current performance levels.

 

Tips for Development

  • Consistently identify what can be done better or differently to improve results. Encourage and reward staff to identify improvement opportunities and suggestions to take appropriate action.

  • Strike a balance between detail orientated and instinctive decisions. Avoid shooting from the hip and paralysis of analysis. Use your intuition and experience to supplement your analysis, not to take the place of analysis.

  • Don’t view each new problem, challenge or opportunity as a unique event. Rather, gather data, reflect on the situation and use your knowledge, skills and experience to explain the current situation you are facing. Develop new conceptual models to better understand the situation. Identify alternative ways to conceptualize and explain to others work situations for which you don’t have a ready solution.

    Opportunity Assessment is the skill that is part of Ability to analyze group of basic skills.

     

    Opportunity Assessment is important for different  positions, from commercial manager, to general manager.



  • Avoid reacting to symptoms of problems. Dig deep to identify root cause(s), and take appropriate corrective action.

  • Identify patterns or connections between situations that are not obviously related to identify key themes or underlying issues in complex situations.

  • Read business case studies to develop systemic thinking and to see how others achieved success in new or complex situations.

  • Broaden the kinds of materials that you read and look for linkages between seemingly unconnected trends and ideas. In addition to books and articles on business, leadership, and innovation, consider reading history, drama, fiction and scientific works to spark your creativity in new directions. Consider reading biographies of well-known innovators and reading detective stories.

 

 

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