embracing disruption: how to remodel · coca-cola has successfully navigated several periods of...
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EMBRACINGDISRUPTION:HOWTOREMODELALEGACYBRANDTOTHRIVE
cc:R23W- https://www.flickr.com/photos/26018798@N06
PRESENTEDBY:
ELEANORJONES,DIRECTOROFDIGITAL&CUSTOMERLEADERSHIP
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VIDEO:CHAOTICWORLD
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RANK 1960 1980 2000 2010 Current
1 GeneralMotors ExxonMobil GeneralMotors ExxonMobil Wal-Mart
2 ExxonMobil GeneralMotors Wal-Mart AppleBerkshireHathaway
3 FordMotor Mobil ExxonMobil Microsoft Apple
4 GeneralElectric FordMotor FordMotorBerkshireHathaway ExxonMobil
5 U.S.Steel Texaco GeneralElectric GeneralElectric McKesson
6 Mobil ChevronTexaco IBM Wal-MartUnitedHealthGroup
7 GulfOil GulfOil Citigroup Google CVSHealth
8 Texaco IBM AT&T Chevron GeneralMotors
9 Chrysler GeneralElectric AltriaGroup IBM AT&T
10 Esmark Amoco Boeing Procter&Gamble FordMotor
FROM1960TO2000,4OFTHETOP10LARGESTCOMPANIESONS&P500HELDCONSTANT
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HOWEVER,AVERAGETIMESPENTONS&P500ISDECREASING
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THEREISFASTERCHURN,INS&PANDSUSTAINABLELEADERSHIPISDECREASING
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4MEGATRENDSCONTRIBUTETOHIGHPACEOFMARKETPLACECHANGE
CONNECTEDCONSUMER
GLOBALECONOMICINTEGRATION
EXPLOSIONOFDATA&EVOLUTIONOFINFORMATION
DISINTERMEDIATIONOFINDUSTRIES
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ONEEXPLANATIONFORTHEMOVEMENTIN&OUTOFTHEFORTUNE500
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Source:McKinsey&Co
DIGITIZATIONISAFFECTINGALLINDUSTRIES,ATVARYINGPACEOFCHANGE
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Themostvaluableretailerhasnoinventory
Theworld’slargesttaxicompanyhas
nofleet
Theworld’slargesthotelchainownsnorealestate
Themostpopularmediaowner
createsnocontent
4TH REVOLUTIONHASDISRUPTEDKEYINDUSTRIESINPROFOUNDWAYS
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DETERMINING‘FAULTLINES’INTHEMARKETPLACEISMORECRITICALTHANEVER
❶EVOLVINGCUSTOMERNEEDS
❷PERFORMANCEMETRICS
❸INDUSTRYPOSITION
❹BUSINESSMODEL
❺TALENT&CAPABILITIES
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Source:KnowingWhentoRevinvent,2005byHarvardBusinessReview
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POPQUIZ
Ifyouhadagoalofmaximizingreturns,whichstockwouldyouhaveinvestedinJanuary2010?
a) Appleb) Googlec) Netflixd) Teslae) Amazonf) Domino’sPizza
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DOMINO’SPIZZAREINVENTION
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DOMINO’SPIZZAREINVENTION
Domino’stransformedthrough:
❶NewPIZZARECIPE
❷CAMPAIGNTOAPOLOGIZEFORFOOD+announcenewrecipe
❸DIGITALTRANSFORMATION&Embraceoftechnology
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OTHERSTRATEGICSHIFTSINRESPONSETOFAULTLINES
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COCA-COLA’SHISTORY&LEGACY
FOUNDEDIN1886 CURRENTLYWORLD’S#4MOSTVALUABLEBRAND
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COCA-COLAHASSUCCESSFULLYNAVIGATEDSEVERALPERIODSOF‘FAULTLINES’
1886 Companyisfounded
LATE1800s TransitionfromFountainbusinesstobottlingbusiness
1920s Packagechangescomingfromcompetitorscopies,toiconicglassbottle
1940s-1950s Internationalization
1985 “NewCoke”comesout,withrevisedformulatoCoca-ColaClassic
2015 WorldHealthOrganizationcallsoncountriestoreducesugarintakeamongstadults
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CURRENTLY,CONSUMERTRENDS&PREFERENCESARESHIFTING
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CHANGETOCOMPANYGROWTHMODEL:OLDGROWTHMODEL
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CHANGINGLANDSCAPE
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NEWGROWTHMODEL
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CONSUMERCENTRICBRANDPORTRFOLIO
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APPROACHTOSUGARHASEVOLVED
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EMBRACEWORLDHEALTHORGANIZATIONGUIDELINES
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NEWCURRENCYOFBUSINESS:CULTURE,EXTERNALFOCUS &SPEED
OBJECTIVE:Createstrongsenseofownership,purposeandresultsorientationthroughallowingdecisionrights
OBJECTIVE:Enableanagileculturethatreducescostoffailureandencouragesspeed,smartrisks
OBJECTIVE:Facilitatelearningcultureandexternalandpartnershipmindsetbystrongerconnectivityandwaysofworkingwithexternalentities(consumers,techfirms,startups,etc)
“INTRAPRENEURSHIP” EXTERNALFOCUS MOVINGFASTER
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QUESTIONSDIGITALMARKETINGLEADERSMUSTASKTHEMSELVES
1) Whatwillbethefaultlinesinyourbusinessinnext3-5years?
2) Areyouabletomanagecorebusinessoftoday,whileplanningaheadtobusinessoftomorrow?
3) AreyouCONSTRUCTIVELYIMPATIENT ?
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