![\"\"](\"https:\/\/flevy.com\/blog\/wp-content\/uploads\/2021\/12\/Opportunity1-300x200.jpg\")
Potential opportunities always surround leaders.\u00a0 It is up to them to pounce on those or regret overlooking them when someone else takes advantage of them.<\/p>\nPotential opportunities always surround leaders.\u00a0 It is up to them to pounce on those or regret overlooking them when someone else takes advantage of them.<\/p>\n
Leaders\u2019 personal beliefs and assumptions often clash reality.\u00a0 The trait is categorized as \u201cconfirmation bias\u201d in Psychology<\/a>, where individuals pick the data that supports their existing opinions and approaches and doubt information which defies their mindsets.\u00a0 Leadership<\/a> needs to develop themselves to the level to consider the slight hints of the opportunities surrounding them.<\/p>\n There are 10 hidden strategic opportunities that\u2014exist in all businesses and geographies but\u2014are often overlooked by the leadership due to personal biases.\u00a0 These opportunities go unnoticed because they are often disguised in the form of anomalies and contradictions to leaders\u2019 existing beliefs and assumptions.\u00a0 It\u2019s up to the leaders to control personal bias; explore anomalies; and develop capabilities to uncover and seize these 10 Hidden Strategic Opportunities<\/a> before rivals do.<\/p>\n In this article, we will discuss the first 3 strategic opportunities.<\/p>\n Most people assume that a certain product already exists.\u00a0 Its only when an organization ventures into that segment\u2014with a new value proposition\u2014that people realize that there was a void there.\u00a0 Such gaps are there in almost all industries, but only visionaries are able to recognize and capitalize on them\u2014through innovation<\/a> and creative product development. \u00a0A number of well-known inventions\u2014e.g., tablet computers\u2014were thought to have already existed, but actually didn\u2019t.<\/p>\n For instance, Kate Brosnahan, accessories editor for Mademoiselle magazine, realized in the 1990s that the handbag market lacked stylish yet economical functional bags.\u00a0 The market at the time was replete with expensive but impractical bags from top designers and functional bags deficient in style.\u00a0 Kate left her job and founded Kate Spade LLC, with her partner Andy Spade.\u00a0 Together they began creating fabric handbags which were practical as well as trendy.\u00a0 Soon, their products started getting appreciation from customers, including media icons.<\/p>\n Fragmented and delayed customer experience results in customer churn.\u00a0 Annoyance caused by poor Customer Experience<\/a> presents potential strategic opportunity to win customers by fixing it. \u00a0They are able to see the bigger picture and strive hard to relieve customers\u2019 aggravation and offer exemplary Customer Experience.<\/p>\n For instance, creation of Netflix Inc. was the result of Reed Hastings having to pay a fine of $40 as late fee for a rented video cassette he had lost. \u00a0Leading organizations, such as Netflix, offer quality offerings and provide their customers seamless, quick, and pleasing experiences.<\/p>\n Hidden merits of a location offers an opportunity for sharp people to invest in for future appreciation. \u00a0One of the reasons for inexpensive resources or items is the lack of their awareness and cognizance of their true potential among people. \u00a0When people recognize the potential of a property or resource, its price rises steeply.<\/p>\n Interested in learning more about the other hidden strategic opportunities?\u00a0 You\u00a0can download\u00a0an editable PowerPoint on 10 Hidden Strategic Opportunities<\/strong> here\u00a0<\/a>on the\u00a0Flevy documents marketplace<\/a>.<\/p>\n You can download in-depth presentations on this and hundreds of similar business frameworks from the\u00a0FlevyPro Library<\/a>.\u00a0\u00a0FlevyPro<\/a>\u00a0is trusted and utilized by 1000s of management consultants and corporate executives.\u00a0 Here\u2019s what some have to say:<\/p>\n \u201cMy FlevyPro subscription provides me with the most popular frameworks and decks in demand in today\u2019s market.\u00a0 They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions.\u00a0 I strongly recommend FlevyPro to any consultant serious about success.\u201d<\/p>\n \u2013 Bill Branson, Founder at Strategic Business Architects<\/p><\/blockquote>\n \u201cAs a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power.\u00a0 For us, it is an invaluable resource to increase our impact and value.\u201d<\/p>\n \u2013 David Coloma, Consulting Area Manager at Cynertia Consulting<\/p><\/blockquote>\n \u201cFlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients.\u00a0 In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over!\u00a0 The quality of the decks available allows me to punch way above my weight \u2013 it\u2019s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.\u201d<\/p>\n \u2013 Roderick Cameron, Founding Partner at SGFE Ltd<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":" Potential opportunities always surround leaders.\u00a0 It is up to them to pounce on those or regret overlooking them when someone else takes advantage of them. Leaders\u2019 personal beliefs and assumptions often clash reality.\u00a0 The trait is categorized as \u201cconfirmation bias\u201d in Psychology, where individuals pick the data that supports their existing opinions and approaches and… 10 Hidden Strategic Opportunities<\/span><\/a><\/p>\n","protected":false},"author":110,"featured_media":10236,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[408,81],"tags":[2789,2787,840,2,1446,2788,793,2786,1148],"class_list":["post-10233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-management-leadership","category-strategy","tag-belief-systems","tag-confirmation-bias","tag-customer-experience","tag-innovation","tag-leadership-mindset","tag-market-research","tag-organizational-culture","tag-personal-bias","tag-psychology"],"_links":{"self":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/10233","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/users\/110"}],"replies":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/comments?post=10233"}],"version-history":[{"count":7,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/10233\/revisions"}],"predecessor-version":[{"id":10243,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/10233\/revisions\/10243"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media\/10236"}],"wp:attachment":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media?parent=10233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/categories?post=10233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/tags?post=10233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/flevy.com\/blog\/wp-content\/uploads\/2021\/12\/10-Hidden-Strategic-Opps.png\")
<\/a><\/p>\nOpportunity 1: Assuming a product already exists, but actually it doesn\u2019t<\/strong>.<\/h2>\n
Opportunity 2: Customer Experience should be anything but strenuous, costly, or irritating (but most of the time it is)<\/strong>.<\/h2>\n
Opportunity 3. An item is often priced low only because not many people know about it<\/strong>.<\/h2>\n
Do You Find Value in This Framework?<\/h2>\n