winning strategies of market driving organization l1(2)
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Winning strategies of Marketdriven organizations
July 09, 18 2010 (A)
July 11, 19(B)
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Visionary Firms
Drivers of market
Leaders of Tomorrow
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Market Driving firms
Market drivers see the world differently and
focus on latent or emerging customer needs.
Market drivers create new markets or
redefine the category in a fundamental way
that competitors are rendered obsolete.
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Market drivers attributes
1. They trigger industry breakpoints or what Andy
Grove of Intels strategic inflexion points,
which change business innovation.2. Core Values inspire their radical business
concept.
3. Rather than learn from existing customers, they
often teach potential customers to consume their
drastically different value proposition.
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values driven organizations
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VALUES DRIVEN CHANGE
OR
CIRCUMSTANCES DRIVEN VALUES
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Getbettervs
Getdifferent
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A JOURNEY
THROUGH WHAT IS
FUNDAMENTAL
AND WHAT IS
CHANGEABLE
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NOTHING SPLENDID HAS
EVER BEEN ACHIEVED
EXCEPT THOSE WHO DARED
BELIEVED THAT SOMETHING
INSIDE THEM WAS SUPERIORTO CIRCUMSTANCE
BRUCE BARTON
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Today We Are In
A Brawl With NoRules!
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HORSE RACE of TOMORROW
All rules subject to change without noticeThe prize money may change at short notice
The route and the finish line will likely change after the race
starts
Bets may be made at any time during the race
New entrants may join the race at any time
Racers are on line at all the times and may alter their plans based
on the most current information
Racers may form alliances
All creative strategies that are not specifically against the law areallowed
Government laws may change at any time (retrospectively)
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Confusion
And more confusion .
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Forbes100 from 1917 to 1987 [70 years]
* 39 members of the Class of 1917 were alive in
1987
* 20 of the firms were in list of 100 in 1987* 18 F100 survivors underperformedthe
market by 20%
* Just 2 (2%) GE & Kodak, outperformed the
market 1917 to 1987.
Source: Dick Foster & Sarah Kaplan, Creative Destruction: Why Companies That
Are Built to Last Underperform the Market
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20 of 267 of top 10*
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*P&G:
Declining domestic sales in 20of 26 categories;
7 of them belonged to the top
10 categories:
The billion-dollar problem.Source:Advertising Age 01.21.2002ecurities
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They had the unpleasant job ofannouncing the second straightquarter of losses in theirbusiness empire that had nevermade a loss before.
Mr. Steel's Moment of Truth, Forbes India, June 5, 2009
2009 .
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GM files for bankruptcy
Ford Motor seeks togain amid Rivals pain
Economic Times, June 1, 2009
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There will be more
confusion in thebusiness world in the next
decadethan in any decade in history.
And the current pace of change willonly accelerate.
Steve Case[America online]
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Uncertainty: We dont know
when things will get back tonormal.
Ambiguity:We no longer
know what normal
means.
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Security in
an insecureworld(existence)?
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The greatest danger
for most of us
is not that our aim is
too high
and we miss it,
but that it is
too low
and we reach it.
MichelangeloItalian Renaissance painter
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Beware of the
tyranny of makingSmallChanges toSmall
Things. Rather,makeBig
Changes toBigThings
Roger Enrico, former Chairman, PepsiCo
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Forget > Learn
The problem is never how to get new,
innovative thoughts into your mind,
but how to get the old ones out.
Tom Peters
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Our ideal acquisition is a small startup
that has a great technology product on thedrawing board that is going to come out in
six to twelve months.
We buy the engineers and the
next generation product.
John Chambers, Cisco
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These days, you cant succeed as a
company if youre consumer led because in a world so full of so much
constant change, consumers cant
anticipate the next big thing.
Companies should be idea-led and
consumer-informed.
Doug Atkin, partner, Merkley Newman Harty
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http://images.google.co.in/imgres?imgurl=http://oldcarandtruckpictures.com/ModelTFord/1914_Ford_Model_T_Touring_Car_Black.jpg&imgrefurl=http://oldcarandtruckpictures.com/ModelTFord/&usg=__YUdr_4jO-sqSaH7CZc59qCx7HG8=&h=300&w=400&sz=24&hl=en&start=5&sig2=ZlhnSAMl8ODofmhqDLpdgw&um=1&tbnid=dnp076xAcNHfBM:&tbnh=93&tbnw=124&prev=/images%3Fq%3DFord%2Bblack%2Bcar%26hl%3Den%26rlz%3D1T4RNWN_enIN299IN300%26sa%3DG%26um%3D1&ei=FhQkSuSyOZeNkAX71vyHBQhttp://images.google.co.in/imgres?imgurl=http://oldcarandtruckpictures.com/ModelTFord/1914_Ford_Model_T_Touring_Car_Black.jpg&imgrefurl=http://oldcarandtruckpictures.com/ModelTFord/&usg=__YUdr_4jO-sqSaH7CZc59qCx7HG8=&h=300&w=400&sz=24&hl=en&start=5&sig2=ZlhnSAMl8ODofmhqDLpdgw&um=1&tbnid=dnp076xAcNHfBM:&tbnh=93&tbnw=124&prev=/images%3Fq%3DFord%2Bblack%2Bcar%26hl%3Den%26rlz%3D1T4RNWN_enIN299IN300%26sa%3DG%26um%3D1&ei=FhQkSuSyOZeNkAX71vyHBQ -
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If Id listened tocustomers,
Id have given them
a faster horse.Henry Ford
1896 Ford Quadricycle
http://images.google.co.in/imgres?imgurl=http://oldcarandtruckpictures.com/ModelTFord/1914_Ford_Model_T_Touring_Car_Black.jpg&imgrefurl=http://oldcarandtruckpictures.com/ModelTFord/&usg=__YUdr_4jO-sqSaH7CZc59qCx7HG8=&h=300&w=400&sz=24&hl=en&start=5&sig2=ZlhnSAMl8ODofmhqDLpdgw&um=1&tbnid=dnp076xAcNHfBM:&tbnh=93&tbnw=124&prev=/images%3Fq%3DFord%2Bblack%2Bcar%26hl%3Den%26rlz%3D1T4RNWN_enIN299IN300%26sa%3DG%26um%3D1&ei=FhQkSuSyOZeNkAX71vyHBQhttp://images.google.co.in/imgres?imgurl=http://www.pattern-maker.co.uk/images/jp%2520running%2520horse.JPG&imgrefurl=http://www.pattern-maker.co.uk/Artist%2520Artwork%2520-%2520Computer%2520Generated%2520Cross%2520Stitch%2520-%2520Julie%2520Popowicz.html&usg=__5Q1d0OOJnPMFB-30ffM2mPTlsOo=&h=264&w=402&sz=21&hl=en&start=13&sig2=eNV62qnejhubIHveBg_PDQ&um=1&tbnid=DE_85gtbwNE6IM:&tbnh=81&tbnw=124&prev=/images%3Fq%3Drunning%2Bhorse%26ndsp%3D20%26hl%3Den%26rlz%3D1T4RNWN_enIN299IN300%26sa%3DX%26um%3D1&ei=jRMkSsI4j4-QBYu_wJ0Fhttp://en.wikipedia.org/wiki/File:Henry_ford_1919.jpghttp://en.wikipedia.org/wiki/File:1896-ford-archives.jpg -
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Our strategies must be tied to leadingedge customers on the attack. If we
focus on the defensive customers, we
will also become defensive.
John Roth, CEO, Nortel
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Saviors-in-Waiting
Disgruntled Customers
Upstart CompetitorsRogue Employees
Fringe SuppliersWayne Burkan, Wide Angle Vision
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The Dream ManagerMatthew Kelly
An organization can only become the-best-version-of-itself to theextent that the people who drive that organization are striving to
become better-versions-of-themselves. A companys purpose is to
become the-best-version-of-itself. The question is:What is anemployeespurpose? Most would say, to helpthe company achieve its purposebut theywould be wrong. That is certainly part of theemployees role, but an employeesprimary
purpose is to become the-best-version-of-himself orherself. When a company forgets that it existsto serve customers, it quickly goes out of business.Our
employees are our first customers, and our mostimportant customers.
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Business has to givepeople enriching,rewarding lives,or it's simply not
worth doing.Richard Branson
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We are aLife Success
Company.Dave Liniger, founder, RE/MAX[Real Estate]
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The role of the Director is to create a
space where the actors and actresses
canbecome more thantheyve ever beenbefore, more than
theyve dreamed ofbeing. Robert Altman, Oscar acceptance speech
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Organizing Genius/ Warren Bennis
and Patricia Ward Biederman
Groups become great only when everyone in
them, leaders and members alike,is free todo his or her absolute best.
The best thing a leader can do for a Great
Group is toallow its members todiscover their greatness.
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free to do his or herabsolute best
allow its members to
discover their
greatness.
Tom Peters, May 28, 2009
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You have totreat youremployees likecustomers.Herb Kelleher, complete
answer, upon being asked his secrets to success
Source: Joe Nocera, NYT, Parting Words of an Airline Pioneer, on the occasion of Herb Kellehers
retirement after 37 years at Southwest Airlines (SWAs pilots union took out a full-page ad in USA Today
thanking HK for all he had done; across the
way in Dallas American Airlines pilots were picketing the Annual Meeting)
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Getbettervs
Getdifferent
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SUCCESSFUL HABITS OF
VISIONARY FIRMS
COMPANIES HAVE THEIR CORE
VALUES AND CORE PURPOSES FIXED
WHILE THEIR BUSINESS STRATEGIES
AND PRACTICES ENDLESSLY ADAPT
TO CHANGING WORLD
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VISIONARY FIRMS
UNDERSTAND THE DIFFERENCE
BETWEEN WHAT SHOULD NEVER
CHANGE AND WHAT SHOULD BE OPEN
FOR CHANGE
WHAT IS VISION?
Mission?
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VISION AND MISSION
VISION: WHAT YOU WOULD LIKE TO BEKNOWN FOR?
MISSION:WHAT BUSINESS YOU WOULD LIKETO BE IN?
Mission Statement components:
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Mission Statement components:
Customer/Marketing
Product or Service
Geographic Domain
Technology
Concern For Survival
Company Philosophy
Self (Business) Concept
Public Image
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VISIONARY FIRMS
Collins &Porras, 1996
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44
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Built to Last
Criteria for a Visionary Company Premier institution in its industry
Widely admired by knowledgeable business
Made an indelible imprint on the world
Had multiple generations of chief executives
Been through multiple product life cycles
Founded before 1950
It is morethan successful, morethan enduring
Displays resiliency and ability to bounce back fromsetbacks and mistakes
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Selection Process
Surveyed 700 CEOs at leadingcorporations from a cross section of
industry, size, location and type/ownership
Identified distinguishing essentialdifferences (rather than commonalities)
with a similar Comparison Company
Examined how they started and evolved
(responded to historical circumstances)
Research Results and Comparison Companies
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Research Results and Comparison Companies
Visionary Companies
1. 3M
2. American Express3. Boeing
4. Citicorp
5. Ford
6. General Electric
7. Hewlitt-Packard
8. IBM
9. Johnson & Johnson
10. Marriott
11. Merck
12. Motorola
13. Nordstrom14. Philip Morris
15. Procter & Gamble
16. Sony
17. Wal-Mart
18. Walt Disney
Comparison Companies
1. Norton
2. Wells Fargo3. McDonnell Douglas
4. Chase Manhattan
5. GM
6. Westinghouse
7. Texas Instruments
8. Burroughs
9. Bristol-Myers Squibb
10. Howard Johnson
11. Pfizer
12. Zenith
13. Melville14. RJR Nabisco
15. Colgate
16. Kenwood
17. Ames
18. Columbia
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List of Visionary & comparison companies
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Visionary Company
Premier Institution
Widely Admired
Indelible imprint on the world
50+ year track record
Multiple generations of CEOs
Multiple product/service cycles
Vi i
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Vision
Vision
Coreideology
Envisionedfuture
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Core Ideology
Core values Core Purpose
Essential, enduring
Tenets (beliefs)
What isimportant?
Reason for being
What theorganisation
offers to society
Dominant aspiration
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YOU DISCOVER COREIDEOLOGY BY LOOKING
INSIDE.
IT HAS TO BE AUTHENTIC.
YOU CANT FAKE IT
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What are Core Values?
A set of beliefs that influence the way
people and groups behave
They are the soul of the organization Effective values are deep rooted
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Johnson &Johnson Core
Values and Purposel The company exists to alleviate pain and diseasel We have a hierarchy of responsibilities: customers first,
employees second, society at large third, and shareholdersfourth
l Individual opportunity and reward based on meritl Decentralization = Creativity = Productivity
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Where do Core Values Come
From? Most core values come from the founders of
an organization
Some organizations have used a groupconsensus process to develop core values
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Why are Core Values Important?
Influence behavior
Communicate what we really believe
Core values are sacred, they do not change They provide a moral compass
Provide continuity through change
Help people make tough decisions They help to decentralize decision making
Help people to be more proactive
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National interestThe Tata group is
committed to benefit the
economic development ofthe countries in which it
operates. No Tata
company shall undertake
any project or activity to
the detriment of the wider
interests of thecommunities in which it
operates.
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Tata Code of Conduct
Gifts and donations
A Tata company and its employees shall neither receive nor offer ormake, directly or indirectly, any illegal payments, remuneration, gifts,
donations or comparable benefits that are intended, or perceived, toobtain uncompetitive favours for the conduct of its business. Thecompany shall cooperate with governmental authorities in efforts toeliminate all forms of bribery, fraud and corruption.
However, a Tata company and its employees may, with full disclosure,accept and offer nominal gifts, provided such gifts are customarilygiven and / or are of a commemorative nature. Each company shallhave a policy to clarify its rules and regulations on gifts andentertainment, to be used for the guidance of its employees.
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Integration of Core Values
Effective core values are integrated into all
levels and functions of the organization
Practicing the core values in all areas, all the
time creates integrity
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Norstan Inc. Integration of Core
ValuesEmployees Customers Stakeholders Owners
1. Be Ethical
2. Be Responsive
3. Be Profitable
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Characteristics of Effective Core
Values Clear and succinct
Usually no more than 6
Thought about and iterated a lot
They stay the same through time, they are sacred
Widely and frequently communicated
Provide substantial guidance
Profitability is not the primary ingredient
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Leading with Core Values
Communicate to assure that people understandthe values and believe in the values.
Standardize the values: define what they meanand give examples of the value, tell valuestories.
Practice using the values:
daily, weekly, monthly.
Encourage people to use the values to makedecisions.
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Leading with Core Values
Align to practices and systems with the values:
rewards, information sharing, measures,
meetings, teams, etc. Recognize people and groups that practice the
values. Inform others about how the values were
used to make a decision. Correct those who do not use the values or
violate them.
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CORE VALUES: EXAMPLES
MERCK
Corporate social responsibility
Unequivocal excellence in all aspects of the companyScience-based innovation
Honesty and integrity
Profit, but profit from work that benefits humanity
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CORE VALUES: EXAMPLES
PHILIP MORRIS
The right to freedom of choice
Winningbeating others in a good fightEncouraging individual initiative
Opportunity based on merit; no one is entitled to anything
Hard work and continuous self improvement
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CORE VALUES: EXAMPLES
SONY
Elevation of the Japanese culture and national status
Being pioneernot following others; doing the impossible
Encouraging individual ability and creativity
.
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CORE VALUES: EXAMPLES
Nordstrom
Service to the customer above all else
Never being satisfied
Hard work and individual productivity
Id tif i l
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Identifying core values:
What core values you personally bring to work?What would you tell your children?
If you have enough money to retire, would you
continue to live those values?
Can you envision them being as valid for next100 years?
Would you hold them even if they become
disadvantageous?
If you start a new organization, what core
values you would build into it, regardless of
industry?
Core Purpose
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Core Purpose
Fundamental reason for being
Not to be confused with goals or strategies of thefirm
Purpose itself does not change, but it inspireschange
Its a guiding star on the horizon - forever pursued
but never reached
Core Purpose is a companys raison detre, not
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a goal or business strategy
3M : To Solve unsolved problems innovatively
Hewlett-Packard : To make technical contributions for the advancement andwelfare of humanity
Mary Kay Cosmetics: to give unlimited opportunity to women
Nike: to experience the emotion of competition, winning, and crushing thecompetition
McKinsey: To help corporations and Govts. be more successful in 100 years
Merck : To preserve and improve human life
Wal-Mart : To give ordinary folk the chance to buy the same things as richpeople
Walt Disney : To make people happy
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ROLE OF CORE IDEOLOGY IS TO
GUIDE AND INSPIRE, NOT TODIFFERENTIATE
Core ideology needs to be meaningful
and inspirational to people inside the
organization; it need not be exciting tooutsiders.
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A CLEAR AND WELL ARTICULATED
IDEOLOGY ATTRACTS TO THECOMPANY PEOPLE WHOSE PERSONAL
VALUES ARE COMPATIBLE WITH THE
COMPANYS CORE VALUES
CORE VALUES AND PURPOSES CANNOT
BE IMPOSED ON THE PEOPLE
E i d F
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Envisaged Future
BHAGS Vivid Description
Huge, daunting
goalsClear & compelling,tangible
Unifying, inspiring,engaging
Making goals
imaginable
The minds eye
Hopeful,passionate,
inspiringimages & symbols
1. Difficult Target2. Common enemy3. Role-model
4. Internal -
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ENVISIONED FUTURE
Big, Hairy, Audacious Goals : Aid Long TermVision
BHAGs can be quantitative or Qualitative
Target, common enemy, role-model or internal transformation
Become a $125 billion company by 2000 (Wal-Mart)
Democratize the automobile (Ford Motors, 1900)
Common-enemy
Crush Adidas (Nike, 1960)
Yamaha wo tsubusu! We will destroy Yamaha! (Honda, 1970)
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ENVISIONED FUTURE
Vivid Description
Vibrant, engaging and specific description.
In 10-20 yrs. What would we love to see?
What will a writer say?
Passion, emotion and conviction are essential parts
of the vivid description
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Sony in the 50s
CORE IDEOLOGY
CORE VALUES
Elevation of Japanese
culture & national status Being a pioneer-not
following others, doing theimpossible
Encouraging individualability & creativity
PURPOSE
To experience the sheer joy
of innovation & the
application of technologyfor the benefit & pleasure
of the general public
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SONY [Contd.]
ENVISIONED FUTURE
Become the company mostknown for changing the
worldwide poor-qualityimage of Japanese products
VIVID DESCRIPTION
We will create products
that become pervasivearound the world.
be the 1st Japanesecompany to go into the U.S.market & distribute directly
succeed with innovations thatU.S. companies have failedat- such as the transistorradio 50 years from now,our brand name will be aswell known as any in theworldMIJ will mean +
FOUNDING ROOTS OF VISIONARY COMPANIES ANDCOMPARISON COMPANIES
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COMPARISON COMPANIES
Founding Roots Summary
Visionary
Founding with a
Great Idea
Comparison3M vs. Norton No Yes Comparison Company
Amex vs. Wells Fargo No No Visionary Company
Boeing vs. McDonnell Douglas No Yes Comparison Company
Citicorp vs. Chase No No Indistinguishable
Ford vs. GM Yes No Visionary Company
GE vs. Westinghouse Yes Yes Indistinguishable
HP vs. TI No Yes Comparison Company
IBM vs. Burroughs No Yes Comparison Company
J & J vs. Bristol - Myers Yes No Visionary Company
Marriott vs. Howard Johnson No No Indistinguishable
Merck vs. Pfizer No Yes Indistinguishable
Motorola vs. Zenith No Yes Comparison Company
Nordstrom vs. Melville No No Comparison Company
Procter & Gamble vs. Colgate No Yes Indistinguishable
Philip Morris vs. R.J. Reynolds No Yes Comparison Company
Sony vs. Kenwood No Yes Comparison Company
Wal-Mart vs. Ames` No Yes Comparison Company
Walt Disney vs. Columbia No No Comparison Company
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8/4/2019 Winning Strategies of Market Driving Organization L1(2)
84/84
Thanx
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