Change Leadership Watch
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Change Leadership Watch
How change happens and who is leading it.  For the BEST of the BEST curated news SUBSCRIBE to our monthly newsletter via  Reveln.com/Tools/ (We never SPAM!)
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J.C. Penny update: Too Much Change, Too Fast? Or Customer Connection failure?

J.C. Penny update:  Too Much Change, Too Fast? Or Customer Connection failure? | Change Leadership Watch | Scoop.it

It is less about how fast CEOs are willing to move than how quickly their most reliable customers are prepared to change.

   

Ron Johnson's bold overhaul of the sagging American retailing icon J.C. Penny went too far too fast.


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Failure simply means leadership went too fast or didn't go fast enough. That's rationalization, not insight.


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 When "reckless" moves succeed, they're retrospectively rebranded as "bold." When "timidity" triumphs, it's celebrated as "patient" and "safe."

  

Failure simply means leadership went too fast or didn't go fast enough. That's rationalization, not insight.

  

How fast are your customers willing to change?

 

Your own rate of change is determined less by the quality or price/performance of your offerings than the measurable readiness of your customers and clients.

  

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Electrolux's  70% rule helps identify and clarify their customers' readiness for change.


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Their internal readiness matters more than yours. Their inertia matters more than your momentum.

  

Electrolux, has implemented a new "70% rule" for testing its new product innovations to make sure it's not getting too far ahead or falling too quickly behind either its customers or competitors.

 

Electrolux CEO Keith McLoughlin has declared that new product prototypes have to enjoy at least a 70% customer preference rate in blind competition with best-selling rival products. "

 

Speed to market" isn't what's driving the change.

 

The goal is assuring that the firm's ability to innovate is effectively aligned with the customers' willingness to value them. The 70% rule helps identify and clarify their customers' readiness for change.

Deb Nystrom, REVELN's insight:

It's alluring, thinking it is about getting the amount of change just right.  Wrong focus.  It is about where and who the customers area, and how adaptable and ready they are for change.


On the individual level, it's also about preferences for change.  The assessment tool, iWam (the Inventory for Work Attitude and Motivation) has a "clock" feature that shows individual preferences for change.  

As goes the individual, probably so goes the customer culture, witness the articles overview of the tech market and the appliances market.  ~ D

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Leading the Continuous Innovation INFOGRAPHIC: Culture, Fringe Experiments, Customer Immersion

Leading the Continuous Innovation INFOGRAPHIC: Culture, Fringe Experiments, Customer Immersion | Change Leadership Watch | Scoop.it

How can change leaders support high performance, innovative teams? The infographic below cites 10 innovation strategies.  This is close.  There will be more of these process charts and innovation graphics.  


This one features:


Step 2:  Working at the organization's edges, the fringe & close to customers (I've heard Dr. Jeff DeGraff talk about fringe teams this year.)


Step 3:  Culture that  supports experimentation, failure.  This is ubiquitous in mention, scarce in after-the-fact reporting.  Better known examples, 3M (Post-Its) and Google (Google Lab: Buzz, Wave, etc.)


Step 6: Customer immersion, pain points


Step 10:  Metrics, measures

 

Sources include:  Christensen & Raynor, The Innovator's Solution: Creating & Sustaining Successful Growth, 2003  


Note the continuous improvement language, adjusted slightly, a 'la W. Edwards Deming:  Ready, Aim, Fire, Adjust.  Like Plan, Do, Check, Act.


Via Jonha Richman
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Russell Goldsmith of City National, on Storytelling’s Power in a Powerful, Positive Culture

Russell Goldsmith of City National, on Storytelling’s Power in a Powerful, Positive Culture | Change Leadership Watch | Scoop.it

The power of a story to teach, reinforce culture, and reward behavior, is central for how this bank executive leads at City National Bank in Los Angeles.


This reminds me of the power of the story by consulting colleague, Dr. Rick Fenwick, of Fenwick-Koller Associates.  We recently completed another round of Team Concept training for the UAW workers at GM Powertrain.  Our 4 day session is nuanced by story, Rick's colorful examples as well as stories shared by team members, learning about managing team experiences, including tools to help.


Goldsmith's example below embeds recognition and reward of the story into the culture of City National Bank.



Excerpt:

Russell Goldsmith is chairman and chief executive of City National Bank in Los Angeles. In its “Story Idol” competition, he says, employees talk about “what they did that promoted teamwork or helped a client by going the extra mile.”


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We [taught] people how to share stories [including] something called “Story Idol,” and every quarter there’s a competition...

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...we have a lot of great stories to tell. If you look up City National, one of the stories you will see is the story of Frank Sinatra’s son who was kidnapped. The first C.E.O., Al Hart, was a real friend of Frank Sinatra’s and famously opened the vault on a Saturday and got the ransom money. That happened in the early ’60s, but people are still telling that story. It’s a source of pride.


We brought in consultants to teach people how to share stories in a more organized way that underscored the culture. We do something called “Story Idol,” and every quarter there’s a competition among our 79 offices.


It’s a way to give colleagues a pat on the back and a moment in the sun for doing the right thing, and it democratizes and decentralizes positive reinforcement.


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...what matters most is the recognition, and the respect from your peers as you stand on the stage in front of 300 people.

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The people who submit the winning stories [Story Idol competition] all get iPads. The winners themselves ...get significant cash awards. But what matters most is the recognition, and the respect from your peers as you stand on the stage in front of 300 people.


Read the full post via the New York Times by author ADAM BRYANT here.


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Thanks to my change colleague, Liz Guthridge, @LizGuthridge, for the heads up. If you have a change leader that merits a look via this curation stream, let me know via DebNystrom@Reveln.com or suggest it as a curation post in ScoopIt.


More about us, on the Fenwick Koller Associates team with Reveln Consulting is here.

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