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Reinventing Your Company for the New Reality


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  • 1. Reinventing Your Company For The New RealityMaking it Better Than it Has Ever Been
    Presented By
    Joel Strom
  • 2. WASHINGTON (MarketWatch) -- Federal Reserve Chairman Ben Bernanke said Tuesday that the recession has ended, at least based on the numbers.
    That was a few months ago!
  • 3. Associated Press 3/2/10 – Mixed reports Monday on manufacturing, construction, and personal income and spending…the recovery remains fragile…Manufacturing output expanded in Feb …fell short of economists’ expectations…
    Construction spending fell for a third straight month in January…
    The weak income growth could depress spending in the months ahead and weigh down the economy’s rebound…
    The bulk of the upturn in manufacturing is behind us…many manufacturers are seeing hopeful trends
    The only certainty---
    Its different than it was
    It will keep changing
    There are new realities
  • 5. New Realities bring New Opportunities
    To Out-perform
    To Out-grow
    To Out-profit
    To be better than ever
  • 6. Taking advantage of your
    New Reality
    May require
    Reinventing Your Company
  • 7. Adapt or Die
    The key to continuing to be a great company (or becoming a great company) is adapting to your new reality
    The key to going out of business (quickly or slowly) is to not accept your new reality
  • 8. Economy
    A Perfect Storm
  • 9. Economy
  • 10. The recession and the economy
    Changed the number of customers
    Changed who your customers are
    Changed the resources of your customers
    Changed the customers’ ability to finance the things they cannot pay cash for
  • 11. Technology
    Changing how we communicate
    Changing how we market
    Changing the way we live
    Changing how we produce and sell things
    Making it difficult to be on the cutting edge and stay ahead of everyone else
  • 12. Culture
    Changing what customers buy
    Changing how customers buy
    Changing where customers buy
    Lower prices have become the expectation
    Saving vs. spending
  • 13. Your New Reality is Your’s
    There isn’t just one New Reality
    Every industry and every company within that industry is facing their own
    unique new reality
  • 14. So what can you do to take advantage of YOUR New Reality and be better than you have ever been?
    And beat the competition
  • 15. First you need to know what your new reality is - so
    Step 1
    Define YOUR new reality
    How has your market changed
    Are your customers recalibrating
    How do your customers now define value
    What are your customers buying (or not)
    How are your customers buying
    How have customer expectations changed
    Then--Think about what’s next
  • 16. Then you need to know your own company – so
    Step 2
    Assess YOUR company
    Your competencies
    Your strengths
    Your resources
    Your economic engine
    Your operating model
  • 17.
  • 18. Step 3
    Reinvent for YOUR new reality
    Connect the dots from
    Your New Reality to Your Company
    Reinvention for Growth
    Reinvention for Operational Excellence
  • 19. Reinvention for Growth
    Connect the dots
    From what the market wants today
    To what you provide and how you provide it
    Changing the view
    4 Options for Your New Reality
    Growth Strategy
  • 20. New reality growth strategy
    Four options for growth
  • 21. New reality growth strategy
    Four options for growth
  • 22. New reality growth strategy
    Four options for growth
  • 23. New reality growth strategy
    Four options for growth
  • 24. A good bet for what’s next
    Continuing change in your market
    Continuous price pressures
    New sources of competition
    Continuing need for strong managed growth
    Continuing need for improving the bottom line
  • 25. Reinvention for Operational Excellence
    Connect the dots
    From what’s happening today and from what‘s next
    To your operating model
    No matter what YOUR new reality –
    11 Musts for Operational Reinvention
  • 26. New reality operating strategy
    11 Musts for operational reinvention
    Flexible, lean, and efficient
    Action oriented - Practice the 60% rule
    Trust your gut
    Innovation mentality
    Give them what they don’t know they want
    Differentiation– everything is a commodity
    Leverage resources
    The best people - still
    Create a great organization – strengthen your culture
    Celebrate the opportunities - No victim mentality
    Focus on bottom line growth
    To make it better than it has ever been
  • 28. Reinventing Your Company For The New RealityMaking it Better Than it Has Ever Been
    Presented By
    Joel Strom