Interesting article in Business Week (July 2, 2007) edition.
Focused on Toyota and flight to quality. The piece that caught my eye was the mention of specific lessons from management guru Ranjay Gulati. A professor at Northwestern’s Kellogg School of Management, he discusses how to avoid complacency:
– “Avoid the Post Pellet Pause” – after achieving success, organizations want to take it easy and enjoy the proverbial fruits of the labor.
– “Look outside the industry” – dont be so myopic that you only look at your competitive set. Creates a “false sense of security”. Look at metrics and goals with companies that are best of breed, not just direct threats.
– “Use Internal Metrics” – Set internal goals for growth and quality, vs relying on external factors only (market share).
– “Give Customers More to Love” – its the customer stupid. With every business article I read, the key to success has always been, and will always be, the customer. Dont lose site and make the product even better …the best in the market!