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Learning from Fastest Companies
Fastest companies credit their firm's ability
to move quickly to their willingness to annually reassess everything they
do, including the business they own, every decision that is made, and the
validity of all executive positions.
A
marketing strategy that you tested and proved to work a while ago may be
a complete failure today. The competitive environment, customer
perceptions, and needs change
very fast today.
So,
question everything, including your recent decisions. Don't be afraid of
offending experts – including yourself – by questioning their logic. The
true experts will appreciate your questions.
Case in Point
25
Lessons from Jack Welch
Jack Welch, the legendary former CEO of General Electric (GE), urged his
managers to
face the reality of each morning: "Confront what the reality is today.
It may be a competitive reality, or a marketing reality, but each morning is
different. What was important yesterday may no longer be important today.
You might make a completely different decision about a deal you agreed on
yesterday or a program you started, in light of the changing environment of
the last twenty-four hours. Start every day as if it were your first day on
the job. Make whatever changes are necessary to improve things. Reexamine
your agenda constantly. Rewrite it, if necessary. In that way, you avoid
falling back on old habit."2
25 Lessons from Jack Welch
Case in Point
Dell
inc.
"It is really dangerous if everyone in a
company starts thinking the same way", says Michael Dell5,
Founder of
Dell Inc.. "The danger comes when you fall into the trap
of approaching problems too similarly. You can encourage your people to
think about your business, your industry, your customers
innovatively. Ask a different question – or word the same question in a
different way. By approaching a problem, a response or an opportunity from a
different perspective, you create an opportunity for new understanding and
new learning. By
questioning all the aspects of our business, we continuously inject
improvement and innovation into our
culture."...
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3 Strategies of Market Leaders
Charles Schwab journals their
failures and lessons they've learned. They maintain also a display of failed
innovations and created a videotape for employee orientation. When
celebration of noble failure becomes institutionalized, people within the
organization are more willing to reassess earlier decisions and
take corrective measures...
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