Welcome the April newsletter
As COVID vaccines roll out all over the globe and restrictions start to ease in a world that has adapted to physical distancing and hygiene requirements, there will be new challenges for your business.
It may be that your company finds it easier to connect with markets as freight routes open up. You may find that your customers have changed their buying habits permanently; or, perhaps you pivoted to new opportunities that now need to adapt again in the ever-changing marketplace.
What can help your company continue to weather the storms and grasp new opportunities, building your business for intergenerational growth?
There are some learnings from family businesses; Jim Collins and Jerry Porras’s work on building companies to last; and Alex Osterwalder and Yves Pigneur focus on the business model canvas and value proposition design to support the growth and development of Invincible Companies.
Family businesses that last tend to take a long-term view of investments and relationships, stay in ownership control to do things their way, focus on persistent improvement and innovation, develop loyal stakeholder relationships, build key talent in select individuals, carry lower debt, and build greater financial stability.
In Built to Last Jim Collins and Jerry Porras identified timeless fundamentals that enable organisations to endure and thrive, including:
- Clock-building: building a company that can prosper beyond the tenure of any leader
- Core values and a strong sense of purpose
- A cult-like culture
- Homegrown management
- Stimulating progress through BHAGS (big hairy audacious goals), experimentation and continuous improvement; and
- Embracing the genius of the ‘and’ – for example, preserve the core and stimulate progress.
Manager Supply Chain Development