Wave goodbye to the way of doing business from 2004, 2005, and 2006. Game over, Game changed, the fat lady has sung…whatever metaphor you want to use. Those years are gone and they are not coming back any time soon. Get over it.
But here is what you do have – a New Frontier in 2010. If you survived the last 2+ years, consider yourself at ground zero. The game has changed, but you are ready for it. Regardless of your industry, these following three points will ring true. It’s your job to figure out what they mean to your business.
Change: The world is changing faster than ever before. Business cycles have condensed. Companies go from startup à growth à failure in very short periods. Markets change faster than 95% of the firms that work in them. That’s why we always feel like we’re playing catch-up.
 |
Create a culture of continuous change, not knee-jerk reactions, but true flexibility. Planting your feet in the concrete and planning to drive “business as usual” will get you left behind, and wondering how to pay your bills. The culture of change begins in the C-suite and runs straight down the organizational tree - Executives, Sales, Purchasing, Customer Service, Manufacturing, Maintenance…nobody is exempt. If you don’t drive this culture, have fun playing catch up to the rest of your market.
Competition: Yes, some of your competitors have failed – they’ve gone bankrupt, been sold, or are merely a fraction of their former selves. But those that remain are fierce. They are smart, flexible, financially stable and aggressive. Millions of firms failed due to financial insolvency, credit issue, etc. The next wave of failures will be because companies got their tails kicked in the marketplace.
Get aggressive and listen to the marketplace. Rarely is your customer going to say: “I’ll give you my business if you do A, B, and C.” It’s just not that simple. They are looking for solution providers, companies to help them with their issues. Be aggressive and listen to what the market is telling you.
Innovation: One of the most overused buzz-words in business…but that doesn’t mean it’s not relevant. Innovation is not about your R&D Department, your best engineer, or your top Sales person. Innovation is about being ahead of the market, predicting needs and figuring out how fill in gaps – in all aspects of your business. If your Customer Service Department is running the same way it was 3 years ago, you have failed at Innovation. If your Manufacturing efficiencies are at the same levels they were in 2005, you have failed at Innovation.
Truly innovative companies have creativity and drive running through their organizational bones. Even the janitor at Microsoft in the 1970’s knew he was part of a technological revolution. How aggressive are you in driving Innovation with your team? The status quo is only good for about 6 months – than the market will pass you by. Get to it.
AMEND is a business improvement firm that drives change in your people and your processes, leading to lasting transformations and true marketplace advantages. You may visit their website at www.amendllc.com. You may contact the author, Joe Rozier, at rozier@amendllc.com.
 |
All comment postings require your name and email address for user verification only. Your email address will not be used or distributed for any other purpose.
No advertising is permitted and will result in the post being deleted and/or banning. Please click "REPORT" to report any inappropriate posts. blog comments powered by Disqus
Permission to Reproduce:
Unless otherwise stated, the copyright and similar rights to all material published on this website are owned by The Manufacturers Group Inc. DBA Manufacturing & Technology eJournal( mfrtech.com ). Reproduction of any article in print, electronic or any other form must acknowledge mfrtech.com as the Source and include a link to http://www.mfrtech.com
 |
