Reinventors: How Extraordinary Companies Pursue Radical Continuous Change

Summary

Eventually every job and every business will become irrelevant. According to Jason Jennings, the past few decades have seen unprecedented shifts; former third-world nations have transformed themselves into high-tech manufacturing powerhouses; technology has democratized business and increased competition in ways never before seen; and customers, used to getting exactly what they want when they want it, are no longer beholden to the corporate giants. Facing these challenges, today’s established companies face two choices: stick with the status quo and become irrelevant or completely revamp their strategy in order to stay vital in the new world order. But how? Jennings and his research team examined thousands of articles and news stories and selected the 100 best examples of companies—including Best Buy, Cirque du Soleil, and Avon—that have successfully reinvented themselves. After interviewing the key players in these transformations, Jennings established what he calls the “reinvention rules,” including: * Abandon all ego: In the old days, one’s reputation could last for an entire career. But now being a master of conventional thinking yields conventional results * Take lots of small chances: When venturing into new realms, one huge risk could potentially break your company, but small bets allow you to see what works—and what doesn’t—without putting your neck on the line. * Be frugal: Money can solve a lot of problems, but it can’t solve everything. The best companies know how to fix problems and effect change using the resources already available. * Grow constantly: If you want to nurture and retain your best people, you need to make sure you can give them opportunities that will make them want to stay. With the same friendly style of Jennings’s previous titles, this audiobook is a must-hear for any leader who wants to stay relevant for years to come.