Does your company have a Venn Diagram - the sweet spot?
Are you a fox or a hedgehog? This will be uncovered in this process.
Philosopher Isaiah Berlin took a famous Greek parable parable and applied it to the modern world in his 1953 essay, "The Hedgehog and the Fox." He described foxes as sleek and shrewd animals that pursue many goals and interests at the same time. Because of this wide variety of interests and strategies, their thinking is scattered and unfocused, and they are limited in what they can achieve in the long run. Is this you?
Hedgehogs, however, are slow and steady, and people often overlook them because they're quiet and unassuming. But, unlike the fox, they are able to simplify the world and focus on one overarching vision. It's this principle that guides everything they do, and helps them succeed against all odds. Is this you?
Let's name some foxes:
Melbourne Racing Club, Myki Ticketing System, Melbourne Cricket Club, Woolworths. You will have some of your own.
Let's name some hedgehogs; their leaders and cumulative stock returns:
Abbott Laboratories - George Cain – Pharmaceuticals – 3.98; Circuit City - Alan L. Wurtzel – Electrical Goods – 18.50; Fannie Mae - David Maxwell – Secondary Mortgages – 7.56; Gillette - Colman M. Mockler – Shaving Products – 7.39; Kimberly-Clark – Darwin E. Smith – Paper Goods - 3.42; Kroger – Robert Aders – Retail Food – 4.17; Nucor - Ken Iverson – Steel – 5.16; Philip Morris - Joseph F. Cullman III – Tobacco – 7.06; Pitney Bowes - Fred Perdue – Business Machines – 7.16; Walgreen’s - Charles R. "Cork" Walgreen III – Retail Drug Stores - 7.34; Wells Fargo – Dick Cooley – Banking – 3.99.
Boost Juice - Janine Allis. Who else??
Circle 1: Passionate about.
Elevanto is PASSIONATE about assisting organisations who display mediocrity and eliminating it.
Circle 2: Advantage / Best at.
Elevanto's ADVANTAGE is linking business philosophies of Marston, Collins and others with demonstrated hands on business operations. We are best at this!
Circle 3: Measure by.
Elevanto MEASURES its success by recording the demonstrated value added by clients.
If you do not have this, you have failed item I of the Next Level Thinking test. But, fear not, we can get you to pass the test! It is mission critical to get this correct.
Imagine that the lift is hurtling down to the Earth's surface and passing Level 3.
You MUST be able to say your Venn Diagram in this timeframe. This is essentially your Mission Statement.
If you cannot do this you have failed Item I of the Next Level Thinking test.
It means you have no idea of where your company is going. You should be getting out of the lift now.
Nike's famous mission statement: Crush Reebok.
Westpac announces new operating model June 10, 2015 10:50 AM
Westpac Banking Corporation (ASX:WBC) will split its business into two divisions in a bid to simplify banking operations and focus on the customer.
It's taken them 198 years to work it out. Now you know why they cop so much stick.
Fancy daring to focus on the customer. Is that a hollow promise?
To create a shopping experience that pleases our customers; a workplace that creates opportunities and a great working environment for our associates; and a business that achieves financial success.
Seems that all should have that as standard.
Woolworths is losing money hand over fist in their venture into hardware with the Masters chain who are a total disaster and are to be closed down.
Here's why. This not part of their growth plans which were taken off their website on June 17, 2015 which are listed with comments:
Woolworths' current business growth plan is built on four key strategic priorities.
1. Extend leadership in food and liquor - Masters do not sell this
2. Act on our portfolio to maximise shareholder value - Masters are losing money
3. Maintain our track record of building new growth businesses - Achieving growth of loss
4. Put in place the enablers for a new era of growth - About which we know nothing!
It is part of our strategy to be committed to protecting the safety, health and welfare of our employees, customers, contractors, visitors and the community. Safety is a key aspect of our business and underpins all operational activities. Our vision for safety at Woolworths is ‘Destination ZERO’ – zero harm to our people, environment and community. Comment: Motherhood. Safety should be standard.