tough times

A client question

We were talking strategy in tough times and then my client blurted out “What about Toyota? What should they do, they are laying people off and halting production!”

That was an interesting one. And then I thought of a couple of things.  The first was how even the largest and most successful companies must constantly reinvent themselves. And the larger and more successful they are, the greater the practical and cultural challenges involved.

I just have this feeling that the business world will be an entirely different place within the next 3 to 5 years. Therefore, now is the time to ask not just questions such as what to offer the targeted customer and who the targetted customer will be but also how to do this efficiently - and differently to competitors.

In fact the whole issue of who, what and how can be used to question the established rules of the game and put innovation back into the heart of strategy.

I’m not sure I solved my clients question at that moment - but then we went on to look at Xojet as a case example

We’ll look at that next time.

BFN

Andy

So what did he do???

Andrew Cook took advantage of harsh conditions to provide precisely what customer’s wanted – a fast service and even more affordable quality product! His improvements saved customers money, which naturally increased demand for his product.

When others saw what he had achieved, they changed too, but it was too late. They sought to catch up and triggered intense battles in a long-lasting… but that’s another issue.

What an outstanding story! But what is the worth of its telling? True, times are tough, I’m deeply conscious of this. But it seems to me that Andrew Cook provides us with insights into how to manage in such times: concentrate on the core business, customers and value-differentiating activities and above all a means of doing this efficiently!

Whatever else, we can be sure that Andrew Cook acted with tremendous tenacity and courage to save his company and give it primacy in his industry. His actions reflect capabilities not often mentioned in boardrooms or training rooms – the hidden hallmarks of persistence, determination and sincerity of action, which are often overlooked when eager imitators review pioneers’ strategic innovations and successes. 

Cook himself said: “Press on. Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts.”

But are the great qualities of persistence and determination alone omnipotent? I think not, even though they are the stuff of legend.

By for now

Andy