Disruptive Change
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Disruptive Change

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Implementing constant (disruptive) change is an absolute must in today's business environment. This slide deck offers the foundational considerations necessary to educate businesses on the need to......

Implementing constant (disruptive) change is an absolute must in today's business environment. This slide deck offers the foundational considerations necessary to educate businesses on the need to embrace change in the workplace in order to survive.

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  • How we react to those changes is often determined by how we perceive them. If we see change as a threat, we tend to act defensively. We go into a “protective posture”.If we see change as an opportunity, we tend to react more reasonably and are open to possibilities.The way businesses see change affects the strategy they adopt.
  • Stick with the status quo until things inevitably decline and ultimately fail, orContinuously change to remain vital and relevant.So how do we do that?
  • Shift from a unit-sales approach to custom-tailored solutions.If you’re ready to abandon the same-old routine, this presentation will open your eyes to new possibilities.
  • The only shot at prosperity any of us have is to constantly re-imagine, re-tool, re-think, and re-invent everything we do and how we do it in order to remain relevant.
  • Over the period of 2000-2010, 16 of the top 25 companies fell off their lofty perches in a short span of just ten years.Since 1955 90% of the companies on the Fortune 500 have been replaced by smaller rivals, gone bankrupt, or shrunk so mall that they have become inconsequential or have simply closed their doors altogether.
  • Lack of capital? No.Lack of intellect? No.Because companies have failed to constantly evolve, respond to marketplace changes, re-imagine, re-think, re-tool, or re-define themselves.
  • Former third-world nations have begun embracing technology and have become manufacturing powerhouses that are supported by middle class populations larger than that of the U.S.
  • Customer who believe they can get exactly what they want at a price they’re willing to pay all add up to a game-changing business environment.
  • This poses two big reality checks with huge consequences for businesses of every size that speak directly to the need for constant and disruptive change. If a business isn’t growing, they won’t be able to retain a high caliber of professionals. They will leave in search of higher pay and better opportunity.
  • 2. If a business isn’t changing and adapting to change, it’ll never be able to stay ahead of its customers constantly changing demands.
  • The business will eventually falter, stall, and crash.
  • Keeping a highly motivated team can be a presentation in and of itself.Stay ahead of customer desires, demands, and needs.Everything else can be managed.
  • Sometimes SIMPLE change is all you need to be radically different.
  • Sometimes SIMPLE change is all you need to be radically different.
  • Achieving and sustaining healthy growth is the biggest single challenge every business will face during every phase of its existence, because consistent growth just isn’t common, and profitable growth is even rarer.One of the most important decisions a leader will make is to determine the cultural foundation of the organization.
  • Every business has a distinct culture. The tempo of that culture is either driven by the effective influence of leadership or it exists by default.
  • When a business is growing, everyone is happy. When it’s growing quickly, all the stakeholders are equally as happy and continue to perpetuate innovative and exciting changes that result in continued rewards.
  • Customers hold the decision power on how when and whether or not to do business with a company. Corporate collaboration is essential in gaining insight to a customer’s experiential desire. All data must flow to one common source in order to be wholly considered for the bottom line benefit of the company.
  • Customers expect companies to come to them – and to provide an experience. Smart companies are responding to these changing customer expectations by putting customers first, engaging them in new ways, and focusing on service and satisfaction unlike ever before.
  • Not responsive to consumer demand: revenue dries up, reinvestment becomes difficult, business suffers & eventually fails.Responsive to consumer demand: revenue grows, reinvestment becomes possible, the business remains relevant.
  • When a company is growing, it is more likely to acknowledge the importance of its vendors and suppliers. In turn, these entities become trusted partners in uncovering new business opportunities.
  • If a company is publicly traded or has interested investors, its shareholders expect dividends or share appreciation to justify their continued support.
  • Before you can even begin to embrace and implement disruptive change, your business must let go of what I call “Change Killers”.Every product or service has a natural life cycle that goes through the phases of introduction, growth, maturity, and eventual decline as it quickly becomes yesterday’s winners.The ability of an organization to embrace disruptive change is determined by the ego of leadership. It is rarely, if ever, determined by the middle or bottom of an organization. If it ain’t broke… Using generally accepted truths from the past to predict likely future results will kill change. None of the old rules and metrics hold up anymore.Few stand in the way of disruptive change as much as a sense of entitlement. Entitlement is a misguided sense that a business has a “right” to continue to exist and do well simply by virtue of longevity or past success.Some companies are afraid of risk because they’ve seen so many others fail. It’s irrational to be paralyzed by the fear of risk if you’re in business. Leaders who monitor their execution process significantly decrease the odds of failure just by being involved in the process.
  • Keep this acronym in mind every time you consider making a small bet.S – There is a detailed destination.M – Create a detailed roadmap.A – Assign responsibility at every checkpoint along the way.R – Is there enough time, money, & experience budgeted? Lack of one means you’ll need more of the others.T – Adhere to the deadlines every step of the way so someone can track and follow-through.
  • Business owners don’t have a chance at ever embracing change and growth without the right people who are focused and motivated at every level. Buildings & offices don’t matter: anyone can build them, processes & efficiencies don’t count: they can be copied, & anything a company makes, sells, or produces can be done better, faster, cheaper by someone else.
  • Leaders wear many hats and serve many roles…coach, mentor, salesman, disciplinarian, spokesman.Each requires a leader to effectively communicate.Leaders promote credibility, humility, accountability, and fairnessLeaders build trust – follow-through, empathy, consistencyTalent – get the right people in the right position and get the hell out of the way
  • Indecision will assure your stagnation and eventual failure. You can “plan” your intentions to death, but until you take action to enact radical change you are doing nothing. Anticipate the need for change and don’t be afraid to entertain radical ideas.Take on a new perspective and Embrace Change!

Transcript

  • 1. Disruptive Change When Trying Harder… is Part of the Problem with Gary Westfal
  • 2. Disruptive Change Change is Progress!
  • 3. Disruptive Change Change vs. Disruptive Change
  • 4. Disruptive Change Implementing constant (disruptive) change into your business will result in extraordinary growth
  • 5. Disruptive Change Two Choices…
  • 6. Disruptive Change Custom tailored solutions Vs. numbers-driven production
  • 7. Disruptive Change The only Guarantee Is Change!
  • 8. Disruptive Change Re-imagine Re-think Redefine Relevance!
  • 9. Disruptive Change 16 of the Top 25 Companies! (2000-2010) 90 Percent of Fortune 500 companies! (Since 1955) Why?
  • 10. Disruptive Change Lack of money? Lack of intellect? Companies simply fail to evolve, improve, change, grow, and redefine themselves and paid the ultimate consequence for inaction.
  • 11. Disruptive Change Changing Demographics & Technological Advancements Have Re-Shaped Businesses • Former thirdworld nations embracing technology & becoming business powerhouses supported by middle class populations larger than that of the U.S. • Start-ups
  • 12. Disruptive Change • Technology that has changed customer demands & expectations
  • 13. Disruptive Change Two Realities – 1. No Growth = Inability to attract/retain the best qualified people
  • 14. Disruptive Change Two Realities – 2. No changes, innovation or improvement = inability to respond to dynamic customer demands The Sobering Result…
  • 15. Disruptive Change The Sobering Result: Faltered growth eventually leading to irrelevance and ultimately to failure
  • 16. Disruptive Change 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
  • 17. Disruptive Change 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.
  • 18. Disruptive Change Innovation Doesn’t Always Trump Change! Sometimes a simple change is enough…
  • 19. Disruptive Change Innovation Doesn’t Always Trump Change! Changes come in many forms and are not specifically limited to your product line. Cultural Economic Demographic Technological
  • 20. Disruptive Change Conventional Wisdom Won’t Work One of the most important decisions a leader will make is to determine the cultural foundation of the organization.
  • 21. Disruptive Change Corporate Culture… The shared attitudes, values, goals, and practices of an organization.
  • 22. Disruptive Change Corporate Culture is created in one of two ways: Leadership-Driven: A message of corporate ethos that everyone must know and practice • • • • • Quality Service Standards Innovation Communication Default: Ad hoc approach to accepting norms and practices that don’t support the interests of the company
  • 23. Disruptive Change A Culture of Change Engaged Workforce Innovation Customer satisfaction/Loyalty Growth
  • 24. Disruptive Change Customer Experience The business that offers the best customer experience in a particular category wins!
  • 25. Disruptive Change Successful Companies Are Giving Customers What they want – Before They Even Know They Want it
  • 26. Disruptive Change 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.
  • 27. Disruptive Change Consumer Demand is ALWAYS Changing When a company isn’t responsive to consumer demand… When a company is responsive to consumer demand…
  • 28. Disruptive Change Consumers are waiting for the next opportunity to spend money.
  • 29. Disruptive Change Vendors and suppliers grow.
  • 30. Disruptive Change Investors/Shareholder expectations.
  • 31. Disruptive Change Change Killers Yesterday’s Winners Ego Stagnation Conventional Wisdom Entitlement Risk Averse
  • 32. Disruptive Change 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…
  • 33. Disruptive Change Small Bets, Big Yields Specific Measurable Accountable Resourced Timed
  • 34. Disruptive Change
  • 35. Disruptive Change
  • 36. Disruptive Change Who Stays…and Who Goes CEOs must have the right people in place at every conceivable level
  • 37. Disruptive Change Who Stays…and Who Goes People aren’t the most important resource... The right people are the only resource.
  • 38. Disruptive Change 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
  • 39. Disruptive Change Who Leads? Good leaders are good communicators Good leaders Lead by example Good leaders Build trust Good leaders Attract the right talent Good leaders are… Essential!
  • 40. Disruptive Change Now What? Be Decisive. Be proactive. Embrace change.
  • 41. Disruptive Change Be Decisive! Act quickly to changing conditions Widen the aperture of your business focus
  • 42. Disruptive Change Be Proactive! Operate with an expectation of change Operate with Strategy instead of Tactics When forced to react, do so decisively
  • 43. Disruptive Change Embrace Change! Respond to Changing Customer Demands by Creating a Culture of Acceptance, Collaboration, Innovation and Change
  • 44. Disruptive Change Trying Hard is a great start but… Real Change comes by way of effective response and accurate forecasting, creating a culture of acceptance, innovation, and reinvention
  • 45. Disruptive Change http://www.slideshare.net/GGaryWe stfal/disruptive-change-30991486