In a recent blog ("4 Great Ways to Become a More Innovative Company"), I wrote about CEO's and other executives who typically have spent much of their leadership time at the head of a successful ship. But when it comes time to adapt to change, they have a hard time keeping their companies afloat when the market winds shift and they need to rethink strategies to change course. Do they just need to add some innovation? Or do they have to change their company culture?
Maybe a little of both. How does that kind of change actually happen?
Let me tell you a story.
At my consulting firm Simon Associates Management Consultants (SAMC), we've been working with a Fortune 500 company whom I'll call “Client X.” The challenge before us is to figure out how to reconcile, on the one hand, a business that has grown to dominate its market by doing things well in one particular way, with on the other hand, changing customers who are demanding new things from their network of retail outlets.
Additionally, and almost right on cue, new managers from Generation Y are rising in this company's ranks and proposing new, innovative ways of doing things. A big collision is coming.