Reinvention- the New Reality

By Verne Harnish “Growth Guy”

In a world where a Sri-Lankan based firm can provide unlimited tech support for $149 a year to a business owner in Sioux City, Iowa, no company can escape the new realities of global competition or hide in its local markets anymore.

Even the German Mittelstands (small to mid-size firms), those powerful “hidden champions” I’ve extolled in past columns, are succumbing to global pressure.  In February concrete pump manufacturer Putzmeister was acquired by its Chinese rival Sany.

And the founder of Putzmeister, Karl Schlecht, when asked a year ago by Hermann Simon, his friend and author of Hidden Champions of the 21st Century, about the threat that Sany might acquire them, replied “That won’t happen to us; we’re going to continue on our own path, and we’ll do it alone.”

“Things didn’t turn out that way,” summarized Simon!

Things are going to continue to be a lot different for all companies, requiring the leadership to reinvent their companies to deal with this new reality.  Two recent books will help inoculate your firm from the impact of this competitive invasion

To read more click here.

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