The Reinventors How Extraordinary Companies Pursue Radical Continuous Change
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The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change by Jason Jennings144 ratings, 3.92 average rating, 14 reviews
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The Reinventors Quotes Showing 1-30 of 110
"The company's twenty thousand workers are the best paid in the industry, but the company has the lowest labor cost per ton of steel, leads the industry in return on capital, has the lowest financial leverage of any major steel company, and has paid 142 consecutive dividends. Retaining the right people sets up the company to do lots more with less."
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
"what A. G. Lafley, CEO at highly innovative Procter & Gamble, said about innovation. "It is possible to measure the yield of each process, the quality, and the end result." Lafley quickly brought systematization to the innovation process at P&G, creating the Living It program, putting employees in the homes of customers to systematically observe their challenges and processes; Working It, to connect company decision makers with the front lines of their channel partners; and Connect and Develop, to combat the insular, not-invented-here blinders and realize that lots of innovation happens outside Procter & Gamble's walls."
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
"You know what it's like when everyone is on the same page, don't you? Work is more fun, morale is high, and when one workday ends people look forward to the next one. When everyone's on the same page, teams get lots done without anyone barking orders or breathing down their necks, hard work isn't as draining, and sacrifices aren't a big deal. Problems get solved without too much fuss, but not because everyone always agrees. It's just that everyone does their best to communicate and cooperate, discussing any temporary rift like adults and coming to consensus quickly. The beauty of having everyone on the same page is that it doesn't matter who is on the team—aggressive people, collaborators, creative types, bean counters, senior execs, front-line workers, old hands, or new hires—the most diverse groups overcome any obstacles and maintain their momentum."
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
"Lancaster hired Anand Sharma, CEO of TBM Consulting Group and a man named by Fortune magazine as one of America's Heroes of Manufacturing, to assist the company in a dramatic and swift turnaround. They shut down the assembly line one weekend, turned off the IBM material planning system the company had invested millions of dollars in, and said, "We're never going back to doing things the way we did, and within five days we have to have a new way of doing things." With Sharma's guidance the forty team members selected for the reinvention mapped the firm's current processes, collectively designed new ones, and set a series of objectives."
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
"Lancaster says that the magic around a reinvention intervention is that the people involved in the process have a say but the establishment—the leadership—doesn't. "I was there as one member of a team wearing jeans and working alongside everyone else," says Lancaster, "not as a boss, owner, or CEO."
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
"Lantech's reinvention intervention answers one of the most fundamental questions about embracing change: Whose idea wins? The answer, of course, is that the best idea should win—not the boss's idea, not the boss's kid's idea, not the strategy department's idea, not the old idea, not the competition's idea; only the best idea should win."
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
"When asked what keeps him awake at night in his new role, John responds, "Innovation and constant change got us to where we are and are still what drives the business." He adds, "Our big challenge is making certain that every one of our workers understands that every little piece of innovation or reinvention that they can bring to the table—whether they're a truck driver, a warehouse person, or a senior executive—is going to add to our ability to compete and grow long-term."
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
"Lancaster takes us back to where we started, but with a brilliant twist. The test of intelligence is indeed the ability to hold two opposing thoughts in one's mind, appreciate both, and still function. But you don't have to be the be-all and end-all expert in your business at one side or the other. In fact, you can be the one who doesn't excel at either. You can be the one who appreciates both and creates the conditions for both sides to flourish."
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
"It's significant that the revenue generated by the large numbers of small bets Howard Schultz made after retaking control of Starbucks is almost equal to the company's total annual profit. In a good year Starbucks earns about one billion dollars on revenues of ten billion; the incremental revenue generated by his many small bets exceeds the company's total average annual profits. A strong argument can be made that without the many small bets he made—excluding their potential effect on future revenues and profits—the company would still be struggling to make a profit."
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
"Have some general backup ideas in mind, but don't let the backup plan be carved in stone. That will prevent you from learning. The time to begin building formalized backup plans is during the tweaking, changing, and maneuvering that occurs while studying the results of the small bet. Backup plans become vital when a small bet that's turned out to be successful is about to be scaled in size."
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
"A culture of small bets is a learning culture in which people discover the right paths to new destinations. In these organizations work is often less like executing a blueprint and more like crossing a fast-moving stream by jumping from rock to rock. Decisions are made in the moment, without perfect information, and people experiment by changing variables, staying in motion, and conquering their fears, with the ultimate destination always clear in their mind's eye. "This takes skills we don't learn in school, even business school," author Peter Sims explains."
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
"SMART is an acronym you need to remember every time you make a small bet. It stands for specific, measurable, accountable, resourced, and timed. Specific: There is a detailed destination. In the previous example, SMART starts with specifically how many customers they wanted to find and how that justifies spending two hundred thousand dollars. Measurable: Create a detailed road map with markers from the destination back to the starting point—in this case from the number of customers sold back to the number of prospects needing to be contacted. Accountable: Decide who is responsible at every checkpoint in the road map. Resourced: Answer the tough questions. Is there enough time, money, and experience budgeted? It's important to realize that the three are interdependent, so the lack of any one means you'll need more of the other two. Timed: Adhere to deadlines every step of the way so that someone can track the follow-through and know that what's expected is getting done."
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
"The fact is most people come to work with a spark of creativity and a desire to help the cause. But along the way, that spark gets extinguished. The solution is to adopt a "no skunking" principle among mangers and senior personnel. Skunking is defined as spraying negativity on the creative spark in a coworker or subordinate. It can be an impatient look that says, "That's a dumb question," or a conversation-killing shot like, "We tried that and it didn't work."
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
"When a company is growing it is more likely to acknowledge the importance of its vendors and suppliers and treat them fairly. In return, its suppliers frequently become trusted partners in uncovering new business opportunities. When a company is constantly changing and its revenues and profits are growing you'll generally find a more engaged group of vendors and suppliers who are interested in truly being good business partners"
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
"Your job as you know it and your business as it is currently run will eventually change. The only chance any of us have for prosperity is to constantly reimagine, rethink, and reinvent everything we do and how we do it in order to remain relevant. We must all become reinventors, and we'd better do it quickly."
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
"Innovator Charles Kettering, the longtime head of research at General Motors and a prolific inventor, had warned his industry colleagues about getting caught in this trap. "An inventor is simply a fellow who doesn't take his education too seriously," he said. In other words, inventors are engineers who can let go of their expertness and achieve what Apple's late CEO, Steve Jobs, called the "lightness of being a beginner again."
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
― The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
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