Four “MUST HAVE” cultural constructs to attract and retain Intreprenuers
Listen up CEOs…. Do you offer the Four “MUST HAVE” cultural constructs to attract and retain Intreprenuers You would not believe how many CEOs quip...
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Why do companies let small, simple problems fester and grow into complex, expensive, and disruptive issues?
Wouldn’t it be smarter to solve those problems when they are small and encompass less risk?
Costly examples of problems that grew from a simple state to a costly and disruptive one:
Imagine the value of a time machine for new CEO of General Motors, Mary Barra…
Barra inherited a tragic and costly issue when she learned that the recall of millions of GM vehicles with faulty ignition switches was an issue the company knew existed in 2004 and did not begin recalling vehicles until 2014.
Sadly, the failures associated with the ignition switch not only resulted in a charge to earnings for GM of nearly $3 billion dollars, it also was identified as a contributing factor in numerous traffic accidents that have cost many families the ultimate cost as they had to say good bye to a loved one. Barra set up a victim’s compensation fund that has approved sixty-four claims as of Q1 2015. GM estimates the fund will pay out over $600 million in claims.
How different could things have been if GM had cultivated and maintained a culture that would have rewarded the engineers to fixing the ignition switch before it went into production?
In 2007, Microsoft launched Windows Vista. Microsoft executives, expecting growth out of their new launch, projected 50% of users would run the premium edition within two years. To catapult their innovation to the public view, Microsoft allotted $500 million for marketing.
Unfortunately, the software had such a high number of distracting and catastrophic compatibility and performance problems; even the most loyal Microsoft enthusiast dropped the product in search of another. In the end, Vista failed and Microsoft opened the door for competitors to take market share. Remember the Apple ad campaign “I’m a Mac”… a hilarious taunting of Microsoft Vista failures by a competitor that today makes more revenue with the iPhone than Microsoft does in total sales. To put it in perspective, consider that in December 2000, Microsoft had a market capitalization of $510 billion, which gave it the enviable winner of becoming the world’s most valuable company. Most recently, Microsoft has a market cap of approximately $349B – while Apple has sailed far past that with a market cap if $716 Billion.
Imagine what would have happened if Microsoft engineers and stakeholders worked in a culture that incented them to find, report, and solve issues before they grow into expensive, catastrophic failures…
As a turn around specialist with decades of experience in solving complex, chronic, disruptive issues that kill companies, I can teach you how to be smart, swift, and successful in your attack on company problems. And the sweetest part, I can make sure you learn how to personally gain from your problem solving capabilities. Successful problem solvers have learned to gain recognition, promotion, and wealth by following the strategies I have set forth in Profitable Problem Solving™.
With these tools and strategies you will learn to: