Inspiration and Hope: Encouraging Sound Bites in a Challenging World
Filed under: Crisis Leadership, Decision-Making, Leadership, Strategy
There’s enough negative going around. Here’s a few worth reading that will leave you thinking and maybe even feeling a bit more upbeat.
I’ll Have Fries with that Strategy and Please Pass the Data
Students of strategy and performance excellence might want to take a closer look at how McDonald’s is using leadership, strategy, customer relations and information to successfully beat back the economic doldrums.
I’ve found it easy to ignore this nearly ubiquitous chain as our family has moved a good decade beyond the Happy Meal phase and as I’ve concluded that my calorie quota cannot afford anything in this class of restaurants.
However, a recent piece in the Wall Street Journal, entitled: McDonald’s Seeks Ways to Keep Sizzling,” has renewed my interest. The article offers some good insights into doing things right at a time when most competitors are struggling with shrinking consumer purchasing power.
Highlights:
- A senior leadership culture that overtly emphasizes finding good people and providing them room to do their thing, the article showcases.
- The firm’s bold and disruptive (to Starbucks) push into coffee.
- A relentless focus on cutting operating costs by improving efficiency without adversely impacting quality and customer perceived value.
- Investments in new store infrastructure at a time when most might hold off.
- Effective use of the system-wide investment in automation for business and consumer intelligence to grab data, monitor operations and trends and make appropriate merchandising and cost decisions in near real-time.
Regardless of whether your business involved food of the fast variety (McDonald’s prefers to call it Quick Service), there are some great “nuggets” for you in how this global giant is navigating the downturn.
Oh, I might just have to stop by and see if the rumors of good coffee are true.
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Innovation Please:
For an extended dose of hope and encouragement, check out the March issue of Fast Company, where the focus is on the world’s most innovative companies.
I love editor Robert Safian’s “One Hundred and Fifty Nine Reasons (pages) to Cheer” theme and his observation that: “the one incontrovertible truth about this era: only creativity and aggressive innovation in the face of hardship and layoffs and seriously tough choices will fuel a turnaround.” While I might call that “effective leadership,” I won’t quibble with Mr. Safian’s conclusion.
My advice, read this one in small sound-bites on a daily basis and let the ideas and examples of the many innovative companies sink-in, rattle around and prompt some thoughts of your own.
Articles ranging from new product development to fresh perspectives on emerging markets as innovation incubators and the art of setting of modest goals are just a few of the many great and thought-provoking reads here. While it is easy to grow weary of “list” type articles, there are just too many good examples to ignore.
On a side note, I’ve enjoyed Fast Company since its inception in the dot.com boom of the late 90’s, when every issue was jammed full of cutting edge articles and cutting edge ads. It was cool (best word I can think of) to read and feel like you were a part of the Fast Company community, just like it is to be a part of the Apple community today. While not attuned to the current financial status of this publication, given the times we are living in and the editorial focus on finding firms and people pushing the envelope, it might just be in vogue to be part of this community once again.
The Bottom Line:
Take a note from the post today and spread some “can do” and “here’s how they are doing it” wisdom today. Get people thinking “What if?” and then get them focused on talking and trying and creating. Safian is right. Creativity and innovation will fuel the turnaround. If McDonald’s can get it, so can your firm.
Turnarounds and Talent is Overrated: Two Great Posts
Some days others have created such interesting posts, the best thing that I can do is to encourage you to head in their direction. Today’s posts from some great pros are too good to pass up. Point your browser towards both of these and enjoy!
- Kris Dunn at The HR Capitalist offers his review of the new book by Geoff Colvin, Talent is Overrated in…“Talent is Overrated Primer-What the ****is Deliberate Practice?” I’ve not yet read this book that explores whether talent or “pure focused hard work” is the key to becoming a world class performer in any discipline, but after Kris’s review, it’s on my list. Check out the review and gain some fascinating perspectives on the concept of “Deliberate Practice.” Hint: It’s a lot more like hard work than fun.
- Wally Bock at the Three Star Leadership blog offers his thoughts on the Turnaround at McDonald’s since Jim Cantulpo has taken over. In McDonald’s-A Turnaround Story Wally and the folks at McDonald’s serve up some useful lessons for all of us working to right our ships. And hey, it’s nice to read about something working out in this economy.
Thanks to both Wally and Kris for the great posts today.
When Projects Go Horribly Wrong: A Great Example
The folks that designed Denver International Airport’s infamous baggage handling system can breathe a bit easier now. While the much publicized start-up disasters at Denver have faded into the past, apparently the project management lessons learned did not transfer across the pond to the teams responsible for the new Terminal 5 at London’s Heathrow Airport.
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