What gets in the way of success? Complexity. What has made it more difficult to execute a plan? Complexity. Only 9% of companies worldwide have been able to sustain a 5.5% growth rate over the past 10 years. 15 of 20 airlines are gone from the top 20 of 10 years ago. Only 12 of 20 banks are still in the top 20. Does the company have a clear point of differentiation? (Nike and Ikea for example). Does the company have a clear insight into customer preferences and habits like Apple does? TK Kerstetter’s interview with Chris Zook, Head of Global Strategy for Bain, Board Member, and Author is a remarkable 14 minutes of key information for board members. He focuses on: Focus, Simplify, and Adapt. Focusing on external drivers is key. Internal focus may lead to a defensive strategy. Women on boards moderate excessive hubris. Companies are successful based on what America has provided and they should be investing more in the country. Valuable information for us all.
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