How Winners Make Choices (Kiezen voor Winst) Book Presentation at Flevum Directors Challenge
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Presentation given by Stefan Stremersch on his best selling book 'How Winners Make Choices' (translated from the Dutch book 'Kiezen voor Winst' published in September 2016). The presentation will be give at Flevum's Director's Challenge event on the 18th of January 2017. The book discusses key strategic dilemmas companies face, namely (i) large volume vs high price, (ii) short term vs. long term, and (iii) local versus global. It then explains how to solve such dilemmas through a cycle of inspiration, divergence and converge. Finally, it provides evidence from research that most companies face such dilemmas and that the model proposed is effective in solving them.
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How Winners Make Choices (Kiezen voor Winst) Book Presentation at Flevum Directors Challenge
- 1. Director’s Challenge | 18.01.2017 Prof.dr. Stefan Stremersch How Winners Make Choices (ENG) – Kiezen voor Winst (NL) Landgoed Huize Bergen, Vught
- 2. Large Volume vs. High Price Short Term vs. Long Term Local vs. Global
- 3. Ferrari needs to increase production from 7.000 to 10.000 cars to grow the financial results of the whole FIAT group (FIAT CEO Marchionne) “I respect Porsche, but Ferrari is more exclusive... We will never sell more than 7.000 cars/year.” (Ferrari CEO Montezemolo)
- 11. Captain Planet
- 13. “If everything you do needs to work on a three-year time horizon, you’re competing against a lot of people. But if you’re willing to invest on a seven-year time horizon, you’re now competing against a fraction of those people, because very few companies are willing to do that.”
- 14. Global or Local?
- 17. Cruijff joins Barcelona in 1973 and brings the ‘Total Football’ mentality, helping them win the first ‘La Liga’ in 14 years
- 23. Inspiration comes from case studies, learning from others who have solved a problem or dilemma similar to yours
- 25. My Problem Source of Inspiration: Problem My Solution Source of Inspiration: Solution Step 1 Step 3 Step 2 Step 4 Document Source of Inspiration Search for Analogous Problem Define Analogous Solution Verify Inspiration in 4 Steps
- 26. “Learn from the mistakes of others. You can’t live long enough to make them all yourself”
- 27. DIVERGE
- 28. Divergence utilizes diversity in your team to fully embrace the complexity of a dilemma
- 29. Connected Cars Car Sharing Lower Car Ownership High Traffic
- 31. “Everyone knew it wasn’t possible... Until someone came who didn’t know that!”
- 32. CONVERGE
- 33. Convergence entails building support and executing on the choice made
- 37. Do Not Think your Way into New Action. Act your Way into New Thinking! Jorgen Knudstorp Lego
- 39. n = 204 n = 104 9 out of 10 companies deal with 1 or more of the three dilemma’s
- 41. 43% 28% 40% 46% Inspire Profits No Yes 37% 30% 41% 49% Diverge No Yes 57% 23% 26% 51% Converge No Yes Profits
Editor's Notes
- In my book, i illustrate this by focussing on three key dilemmas, 9 our of 10 companies face:
- Consider the high price versus volume dilemma and how Fiat pressed it onto Ferrari. Fiat tried to press higher volumes Exit Montezemolo who resitsed that.
- Ferrari did go IPO to strengthen capital base of Fiat to serve its growth targets
- Growthj target moves to Maserati with the launch fo the Ghibli. Double sale svolume by 2018 (75000). Sold record 12,942 cars in US in 2014, but already went down to 11,697 in 2015. Lost 11% in sales globally. In first 10 months of 2016, again a decline versus 2015. In EU, stable at around 6000. Globally now at around 32,000 cars (also approx for 2016).
- By the way, of course this is not unique to the car indystry. What do you do when you’re hte Ferrari of piano’s? Tell the Steinway story how they built a smart brand architecture to grow without endangering their premium Steinway franchise. 7-10 years training,12000 components Hamburg and New York manufacturing. Painos of 100.000 euros are no exception at Steinway.
- It did so by utilizing a clear flagship strategy, with entailed further strengthening its strong position in the premium niche under the brand Steinway & Sons and targeting other (less premium) niches with new brands such as Boston (launched in 2006) and Essex (launched in 1992). The three brands are strictly separated from each other, in order to avoid brand confusion. Essex is the entry level model aimed at beginning players, designed and manufactured by Steinway worldwide. Each Essex is inspected by a team of highly experienced experts from Steinway and Sons before it leaves the factory. The cheapest Essex upright pianos cost € 5,490, while the grand models, prices vary between € 13,500 and € 20,200. Boston, designed by Steinway & Sons since 1992, offers top quality instruments for the medium expensive price segment. As with Essex also Boston pianos are produced worldwide by other piano builders, the quality is guaranteed by specialized Steinway experts . The cheapest Boston-upright piano costs € 7,600, while the Grand model prices vary between € 21,100 and € 51,400. Steinway is focused on the premium segment and is completely handmade by Steinway. The cheapest Steinway upright piano costs about 30,000 euros, while prices for the Grands are situated between 60,000 and 250,000 euros. Steinways’ are therefore usually bought for life. ========= Prijzen gebaseerd op: http://www.pianobuyer.com/publication.html#205
- The seocnd dilemma between short and long term has received a lot of attention recently. There were debates on this in the economista nd HBR.
- 2008 Oerang Oetang Greenpeace activists storm Unilever HQ 2009 Polman takes over. A prime case that has fueled that debate is Paul Polman’s reign over Unilever. Immediately when he took office, he slashed quarterly earnings reporting and steered Unilever to the long term. Unilever stock price was heavily hit and Polman went on to become Captain Planet. Why called Captain Planet etc. the results are quite interesting. On the one hand, Unilever has lost its bad image of ruining our planet and is now one of the world’s most admired companies. On the other hand, Unilever shows growth below industry average and a stock price evolution below industry average. It is getting hit by short term oriented P&G. Critics have said that if you want to work on the long term your fundamentals in terms of growth prospects need to be outstanding. Then transition to Amazon.com as a case as a great example on how to compete on thelong term and why it works. It works because hthey show massive growth and also invest in the long run, what Unilever really does not do, they prefer sueing the long term (sueing Just Mayo for example)...
- https://next.ft.com/content/7c79452e-ae5c-11e4-8188-00144feab7de
- Marked difference with amazon which makes up for long term ambition with high growth rates.
- It matters not only that we win but also how we win. Transition to playing style and catalonya
- Woirld cup 2010 Spain NL wopn by Spain
- How to make the right decisions and push them through
- Funny intermezzo is needed here. Maybe video or funny picture. It needs ot be able to firm a bridge. The previous part was on what are these difficult choices that separate winning from losing. This part is on how to make these chhoices. So more approach it from choice making (decision analysis if you want) than from transofrmaion.
- Hoe dit te tacklen? Engageren van mensen via IDC model Insert figure
- INSPIRE: Inspiratie komt uit case studies, waarin beslissers een probleem of dilemma dat gelijkt op het jouwe reeds hebben opgelost Inspirational picture on inspiration (curiosity opwekken over wat het inhoudt) Ik vraag me ook af of we de volgend structuur kunnen aanhbouden: (1) definitie; (2) case; (3) how to tool; (4) quote (possibly also from case)
- Inspiratie bv. restaurantformule Next
- Inspiratie bv. restaurantformule Next
- Roosevelt quote
- Inspirational picture on divergentie (curiosity opwekken over wat het inhoudt) DIVERGE: Divergentie benut diversiteit in jouw team om de complexiteit van een dilemma volledig te omarmen
- Divergentie benut diversiteit in jouw team om de complexiteit van een dilemma volledig te omarmen
- https://www.allianz.com/en/press/news/business/insurance/news_2013-05-23.html/
- Perfect werk IW uit als case van divergentie om te innoveren buiten banden. Leg ook de context van movilitiet uit. Zie artikel voor managementsite.
- Zullen we eindigen met de quote op pagina 119? Die van Frank? Laat me ook toe te praten over dat we daarmee samenwerken? En dan kan die quotemisschien gekoppeld worden aan de moonwalking bear video om wat audiovisueel materiaal te hebben?
- Inspirational picture on convergentie (curiosity opwekken over wat het inhoudt) CONVERGE: Convergentie is het genereren van draagvlak voor gemaakte keuzes
- http://www.faz.net/aktuell/rhein-main/blockupy/frankfurt-am-main-stadt-der-demonstrationen-und-proteste-13487100.html BMW is een prima case om het in te zetten in bovenstaande structuur. Wel evne kijken of je het grafischer kan maken. BMW CEO Reithofer appoints Joschka Fischer to do internal roadshows Result: the i3-project-team got more applicants than it could handle
- 8*8 = 100% Hier moet je volgens mij nog hetonderzoeksrapport gaan presenteren. Het IDC model gelinkt aan succes. Het is niet zomaar alleen mijn mening en cases, maar we hebben het ook wetenschappelijk aangetoond.
- De weg naar succes is immers geen sprint, wel endurance! Ook het implementeren van winning choices is een beetje zoals het lopen van een marathon Pic: trail in sahara
- Book and goals