The rules of the game used to be pretty simple for large food companies: Make massive quantities of tasty and inexpensive (if not particularly nutritious) food products, create memorable brands around them, and use their market clout to get them within arms’ reach of the everyday consumer. For my mother’s generation, the germ-free, safe, and convenient access to packaged and processed food was a boon.
If people try to tell you that pivoting is the new thing, that it’s the fresh Silicon Valley approach to business designed for today’s fast-paced digital world, don’t believe them.
Sometimes they don’t know it themselves. When they do, they hide it. But they are out there. Executives, managers, and business owners who want to stem innovation. If you no longer want your organization to try new approaches, if you believe that the best path to growth is to keep doing what has been working for years, this guide is for you.
Debbie Brackeen was in the “innovation” business before it was even called “innovation.” After completing her undergrad at Stanford University, she found herself in the heart of Silicon Valley. She spent her first years at Apple followed by stints at a variety of high-tech companies from HP to venture-baked start-ups. Today she is the chief strategy and innovation officer at CSAA Insurance Group, one of the largest AAA insurers in the world.
If you have been feeling the pace of change accelerating, 2018 will demand an even faster pace. Companies that thrive will have to learn to experiment like a startup.
People often ask me how to incentivize entrepreneurial behavior from within an established organization. My first answer is “stop killing it.” Leaders put so many barriers and shut doors in front of would-be internal entrepreneurs that just lifting a few barriers or leaving a few doors ajar would on their own create a momentous acceleration in their flow of innovation.
It may sound boring, operational, and tactical, but your distribution plan is perhaps your greatest opportunity to magnify the potential of your business. If strategy is the answer to who, what, and how, we spend too much time debating our “who” and “what,” and we give the “how” insufficient credit.
The FIFA World Cup is a great example of best-in-class brands who are trying to make an impression. This event is far more than a game that occurs every four years; it is a multi-layered event that attracts key advertisers vying for real estate on packaged items that range from Coca-Cola to Gillettte razors. The best of the best, sparing no efforts to gain the public’s attention.