Innovation, Change and the 21st Century- Why is UK Plc finding it so hard to adjust?
Why are so many businesses struggling to attract loyal talent and customers? Why are truly unique brands so scarce, whilst middle of the road products, services, retail stores, etc dominate the business landscape? Why aren’t companies in the UK performing as well as others?
Facebook , The iPhone, Skype, Twitter, illustrates just how quickly things have changed but have the major corporates in Britain kept up? Do they really understand the climate they now operate in? The future isn’t what we’re used to and it ain’t what it used to be!
Why are the following companies growing at rates most of UK PLC could only dream of? Netflix (31% y/y),Amazon (39%y/y), Ebay( 26% y/y), Alibaba.com (40%y/y), Baidu(76% Y/Y) , Tencent(55% Y/Y), Priceline.com (37%). (Source: Mary Meeker- Morgan Stanley)
Here’s a clue at what might be holding things back a bit: Check out this 5 minute video by the Chair of the MBA program at Havard Business School, Dr Youngme Moon. Dr Moon gives an interesting insight into the problems that stifle things like innovation and differentiation. Warning the video is only likely to be interesting to some who see the destructive forces at play, many will think it’s BS or that they’re exempt from it. http://bit.ly/mDULPq
The high performing companies of the 21st Century are not just doing things differently, but questioning whether we should be doing many of the things we currently believe in, at all. They are writing new rules about the growth potential of companies who embrace the new opportunities this marketplace presents.
“The fundamental problem with most businesses is that they are governed by mediocre ideas.
Maximizing the return of invested capital is an example of a mediocre idea. Mediocre ideas don’t uplift people. They don’t give them something they can tell their children about. They don’t create much meaning. “ Bill O’Brien (CEO Hanover Insurance)
A couple of thoughts here in the post. What do you think is holding most of UK PLC back?