Discrepancy

A discrepancy reveals an underlying "blunder." Often, there is a gap between reality and the perceptions of management. This discrepancy can be evident to people working within the industry, market, or process (or closely connected to them). Outsiders may also notice this discrepancy but might dismiss it because "it has always been this way." Change leaders turn these discrepancies into advantages for their company. For example, consider the information discrepancy between sellers and buyers in the automobile market. Buyers in this market dislike several things: haggling over price, being victims of deceptive advertising, and wasting time at the dealership as the seller goes back and forth from the sales manager to the buyer. Therefore, online companies were created to offer used and new cars from a single supplier, providing comprehensive and accurate information about all types of vehicles, including warranties, financing, and insurance. These companies have leveled the playing field for sellers and buyers. TIP OF THE DAY Are there discrepancies within your production or market that can be leveraged as advantages for your company?