Half the companies that were industry leaders in 1955 still were in 1990, but two thirds of market leaders in 1990 no longer existed by 2004 (Menkes).
Out of 2,000 US public companies, only 2% outperformed their industries during both turbulent and stable economic periods (BCG).
Bad things are happening to good companies. Despite repeated warnings to prepare for change, many CEOs are failing to adapt quickly enough, even now stalling to react to what was speculation and is now obvious.
There are no excuses for blind spots. Failing to acknowledge and make corrections immediately not only undermines leadership character, it taints the thinking and behavior of an entire organization, enabling everyone to operate from a place of weakness.
Food companies can’t compete until they’re among the best. What seems difficult or even impossible must become essential to master in today’s shifting, time-based environment.
Chief executives must act to define the upper limits of their organizations’ capabilities. Evaluate your assumptions, practices and people. Replace and upgrade anything or anyone holding your organization back. Time is running out.