“One common pitfall for large organizations – one that hurts speed and inventiveness – is ‘one-size-fits-all’ decision making.” – 2016 Letter to Shareholders, Amazon
How many decisions you make, today, have to go to the top management ?
Are they big decisions ? Or small ? Did that make your process faster ? Or slower ?
And then it reminds me the great quote from Sir Ratan N. Tata…
Lots of people like to quote this line from Jeff Bezos and claim they are customer centric as well as customer obsessed … just like Amazon.
However they missed one important idea behind that, as mentioned in Bezos’ annual letters to shareholders (go read those … https://amzn.to/3iyFLr4).
The idea is … keep improving your own products to serve the customers is not good enough, but also need to develop new capabilities within the corporation and roll out new products to address customer needs.
New ideas, new risks, new capabilities, new experiments, new failures, new products …
Have you ever wonder why aren’t your potential customers buying your team’s perfect products ? Wrong pricing strategy ? Not enough distribution channels ? Lack of marketing ? Or … (fill in the blanks here)
People don’t buy into you or your product, they buy into the difference you make.
Not sure you agree with me, but I think year 2020 was a year with high “Return on Ignorance”, average in “Return on Innovation” and low in “Return on Investment”.
What’s your target ROI for year 2021 ?
M.Y. Lessons Learnt 