Download - Disruptive Change
Disruptive Change
When Trying Harder… is Part of the Problem
with Gary Westfal
Disruptive Change
Change is Progress!
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Change vs.
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Implementing constant (disruptive) change into your
business will result in extraordinary growth
Two Choices…
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Custom tailored solutions
Vs. numbers-driven production
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The only Guarantee
Is Change!
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Redefine
Re-imagine
Re-think Relevance!
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16of the Top 25 Companies! (2000-2010)
90Percent of Fortune 500 companies! (Since 1955)CL
OSED
!
Why?
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Lack of money?
Lack of intellect?
Companies simply fail to evolve, improve, change, grow, and redefine themselves and paid the ultimate consequence for inaction.
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Changing Demographics & Technological Advancements Have Re-Shaped Businesses
• Former third-world nations embracing technology & becoming business powerhouses
supported by middle class populations larger than that of the U.S.
• Start-ups
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• Technology that has changed customer demands & expectations
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Two Realities –
1. No Growth = Inability to attract/retain the best qualified people
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Two Realities –
2. No changes, innovation or improvement = inability to respond to dynamic customer demands
The Sobering Result…
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The Sobering Result: Faltered growth eventually leading to irrelevance and ultimately to failure
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Two Primary responsibilities of a leader:
1. Keep a highly motivated team of people together
2. Make sure the team stays ahead of an emerging base of customers whose needs/desires are constantly changing
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To be Static is foolish.
Stalled companies statistically lose
75% of their market value once they begin to stall/decline.
Collateral staff losses.
CEOs and senior leaders replaced in an effort to adapt, overcome and save the business.
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Innovation Doesn’t Always Trump Change!
Sometimes a simple change is enough…
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Innovation Doesn’t Always Trump Change!
Changes come in many forms and are not specifically limited to your product line.
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Cultural
Economic
Demographic
Technological
Conventional Wisdom Won’t Work
One of the most important decisions a leader will make is to
determine the cultural foundation of the organization.
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Corporate Culture…
The shared attitudes, values, goals, and practices of an organization.
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Corporate Culture is created in one of two ways:
Leadership-Driven: A message of corporate ethos that everyone must know and practice
Default: Ad hoc approach to accepting norms and practices that don’t support the interests of the company
• Quality• Service• Standards• Innovation• Communication
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A Culture of Change
Engaged Workforce
Innovation
Customer satisfaction/Loyalty
Growth
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Customer Experience
The business that offers the best customer experience in a particular category wins!
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Successful Companies Are Giving Customers What they want – Before They Even Know They
Want it
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Beacon
Low-cost hardware device that utilizes a battery-friendly low-energy Bluetooth connection to transmit messages or prompts directly to a smartphone or tablet.
Consumer Demand is ALWAYS Changing
When a company isn’t responsive to consumer demand…
When a company is responsive to consumer demand…
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Consumers are waiting for the next opportunity to spend
money.
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Vendors and suppliers grow.
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Investors/Shareholder expectations.
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Change Killers
Yesterday’s Winners
Ego
Stagnation
Conventional Wisdom
Entitlement
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Risk Averse
Small Bets, Big Yields
Businesses that operate best in an environment of change simply don’t get blindsided by visions of grandeur and huge payoffs.
Instead, a more successful strategy is to take lots of incremental bets…
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Small Bets, Big Yields
Specific
Measurable
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Accountable Resourced Timed
Who Stays…and Who Goes
CEOs must have the right people in place at every conceivable level
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Who Stays…and Who Goes
People aren’t the most important resource...
The right people are the
only resource.
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Who Stays…and Who Goes
Companies committed to radical change and growth
recruit and hire workers who exhibit the following qualities:
Basic intellect and lifelong learners
Solid work ethic
Loyal and adventurous
Optimistic
Business minded/customer oriented
Belonging/committed
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Who Leads?
Good leaders are good communicators
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Good leaders Lead by example
Good leaders Build trust
Good leaders Attract the right talent
Good leaders are…
Essential!
Now What?
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Be Decisive.
Be proactive.
Embrace change.
Be Decisive!
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Act quickly to changing conditions
Widen the aperture of your business focus
Operate with an expectation of change
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Be Proactive!
When forced to react, do so decisively
Operate with Strategy instead of Tactics
Respond to Changing Customer Demands by Creating a Culture of Acceptance, Collaboration, Innovation and Change
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Embrace Change!
Real Change comes by way of effective response and accurate forecasting, creating a culture of acceptance, innovation, and reinvention
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Trying Hard is a great start but…
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http://www.slideshare.net/GGaryWestfal/disruptive-change-30991486
