Reinventing Your Company for the New Reality


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Reinventing Your Company for the New Reality

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