home | Blog

Should You Fire Yourself?

September 28, 2009

Tags: boeing, chrysler, gm, Management
Categories: Strategy

Back in 2006, Bill Ford, CEO of Ford Motors decided he was the wrong man to be running the company that bears his name. After a long string of huge losses, Ford was heading into the abyss – alongside its US competitors GM and Chrysler.

That’s when Ford and the company’s Board took the bold action of hiring a new CEO who’d never worked in the car business a day in his life. Alan Mulally was an aeronautics lifer. He built planes. His most recent job was as CEO of Boeing’s commercial airplane division. When he joined that division, it was struggling mightily, AND losing sales to its chief foreign competitor Airbus.

Mulally led the resurgence of the commercial airplane business, and despite the fact that Boeing was his only employer since college, Ford gambled that he could turn around their fortunes as well.

Believe what you see.

Ford saw the writing on the wall and acted to change direction well before GM and Chrysler. While still a work in progress, Ford didn’t need to get bailed out with government money. They’ve brought labor costs in line with Toyota. And they’re investing big time in the energy efficient cars of the future. In fact, their first production electric car is due in showrooms within the next year.

Early returns say that Mulally appears to be the right man, at the right time to lead Ford.

And just like at Ford, thousands of companies – big and small – are learning that the old formula for success doesn’t work anymore.

Current and future conditions demand new products and services. New ways to deliver them to customers. A new approach to marketing.

And the courage to change.

Are you right for the job?

Posted by: Steve Banis

Want to Know More about Albany Marketing firm Burst Marketing?
Visit us at www.burstmarketing.net

Comments (0)

Can You Handle the Truth?

July 26, 2009

Tags: Albany marketing, decision marking, Economy, Management, Strategy
Categories: Courage, Decision Making, Management, Marketing Blueprint, Strategy

You can say what you want about this economy, but the one thing it does is reveal the truth.

The truth about where you stand.

When I conduct strategy sessions with business owners and managers – The first thing I do is guide them towards a clear, unbiased view of where they stand at the current time.

Sometimes a company comes in on a winning streak. Sometimes it’s trending down.

Regardless, it’s imperative to distinguish the difference between the fundamental strengths and weaknesses of a business – and not let them become masked by outside factors. Like the economy.

Good times can mask weaknesses and strengths. But bad times show the blemishes your business has like a fluorescent light in the bathroom at 6am. It can be a little unnerving.

But it has to be done.

Like it or not, your core weaknesses and strengths have been exposed. Ask yourself some questions. Then ask yourself why?

- Have you lost key accounts?
- Are key employees leaving or showing up at your door?
- Are you unexpectedly winning clients you never could?
- Are you losing business that used to be a slam dunk?
- Have you been able to hold the line on pricing?

Believe me, you can’t blame it all on the economy.

Figure out what’s actually in your control?

The truth is, there will be fewer competitors in just about every industry when the dust settles. In fact, I believe that firms will be bought, sold, or fold in even greater numbers when things pick up a bit.

And the nation’s long-term problems will surely dampen any recovery once one does begin.

But that doesn’t mean there ain’t money to be made.

So there you are…basking in the bright light of truth.

Can you look at it long enough to do what needs to be done?