Hunter Douglas hosts 4,000 at first-ever International Alliance ...

In this issue of “ Make A Difference” , we reproduced two articles by two of the speakers, Mr DanielBurrus and Ms Michelle Lamb. We e would also like to share with our readers snippets of wisdomfrom IAC Keynote Speaker, , Gen. Colin L. Powell, USA (Ret.) and Mr George Whalin.Powell’s PrinciplesCreating and Sustaining aCompetitive AdvantageDaniel BurrusFounder and CEO of Burrus ResearchOne of the most admired people in America today, GeneralPowell shared with the audience his insights on leadershipand described his vision for tomorrow.“ Being responsible sometimes means pissing people off.”“ Great leaders are almost great simplifiers, who can cutthrough argument, debate and doubt, to offer a solutioneverybody can understand.”“ You don’t know what you can get away with until you try.”“ Perpetual optimism is a force multiplier.”“ Leadership is solving problems. The day soldiers stop bringing you their problems isthe day you have stopped leading them. They have either lost confidence that youcan help or concluded that you do not care. Either case is a failure of leadership.”IAC Keynote SpeakerGen. Colin L. Powell , USA (Ret.)“ Keep looking below surface appearances. Don’t shrink fromdoing so just because you might not like what you find.”“ Organisation doesn’t really accomplish anything. Plansdon’t accomplish anything either. Theories of managementdon’t much matter. Endeavours succeed or fail becauseof the people involved. Only by attracting the best peoplewill you accomplish great deeds.”“ Organisation charts and hence titles count for next tonothing.”“ Don’t be buffaloed by experts and elites. Experts oftenpossess more data than judgement. Elites can become soinbred that they produce hemophiliacs who bleed to deathas soon as they are nicked by the world.”“ Never let your ego get so close to your position that whenyour position goes, your ego goes with it.”“ Fit no stereotypes. Don’t chase the latest managementfads. The situation dictates which approach bestaccomplishes the team’s mission.”Powell’s rules for picking people:“ Look for intelligence and judgement and, most critically,a capacity to anticipate, to see around corners. Also lookfor loyalty, integrity, a high energy drive, a balanced egoand the drive to get things done.”“ Don’t be afraid to challenge the pros, even in their ownbackyard.”“ Never neglect details. When everyone’s mind is dulled ordistracted the leader must be doubly vigilant.”Part I: “ Use the formula P=40 to 70, in which P stands forthe probability of success and the numbers indicate thepercentage of information acquired.”Part II: “ Once the information is in the 40 to 70 range, gowith your gut.”“ The commander in the field is always right and the rearechelon is wrong, unless proved otherwise.”There are many ways to compete and yet mostcompanies focus their strategies on only a few.This narrow perspective limits a company’sability to create solid competitive advantages andsustain them over time. To be consistentlycompetitive, companies need strategies that encompass techniques foreverything from price, time and value to technology, image and service.Price-Based CompetitionThe most popular competitive technique is to focus on price. Having the lowestprice is a great advantage, but lowest price also means low margins and highvolumes in order to stay profitable. Price-based competition is a favourite techniqueof giants like JetBlue Airlines, Wal-Mart, Dell Computers and Amazon.com. Price,however, isn’t their only strategy. Let’s look at JetBlue as an example of a companythat executes multiple competitive strategies. In 2006, JetBlue was a profitablecompany, with their stock surging 156% since going public in April 2002. Inaddition to low prices, JetBlue lowered their operating costs by standardising toone type of jet, which dramatically lowered training and maintenance costs.Their technology enables over 700 reservation agents to work from their homesin Salt Lake City, saving both time and money. Nearly three in four tickets arebooked through JetBlue’s own website, saving commission costs and othertravel agent fees. The airline further differentiates itself from competitors byproviding comfortable seats and movies that add value. JetBlue continues toinnovate by being the first to allow pilots to carry laptops that automatically updateflight manuals. The best companies never focus on price alone. They combinemultiple strategies to create a lasting competitive advantage and continue toinnovate using technology that raises the bar for every strategy they employ.What’s the Difference Between Competers and Innovators?Competers copy others.Competers are locked into set patterns.Competers believe the future will take care of itself.Competers see scientific and technological developmentsas threats to their status quo.Competers collect massive amounts of raw data.Competers react to trends.Competers consider planning a necessary evil.Competers dread change and resist it.Competers avoid being different.Competers control and direct their people.Competers complain their people lack productivity.Competers use technology to save money.Competers favour predictable behavior.Competers believe problems impede progress.Don’t Imitate – InnovateCompetition will only intensify. In today’s marketplace, it is more important thanever to focus on innovation as you seek to differentiate yourself from thecompetition. When competitive pressure increases, it is natural to focus on whatthe competition is doing. Although keeping track of them is a good practice, toomany organisations watch their competitors at the expense of developing theirown innovations, and eventually discover there’s a price to pay.The Hidden Cost of CompetitionCompanies who spend their time studying the competition rather than lookinginternally put themselves at risk in a number of ways:1. They lose their identity by copying each other’s products, servicesand methods, making it hard for customers and employees todistinguish one from the others.2. Individuals and firms struggle with each other and lose sight of theirown customers and markets.3. Potential money-saving innovations are overlooked due to excessiveconcern with minor cost-reduction measures.4. Long-term profits, problems and opportunities are missed when alleyes are on short-term sales and profits.5. Resources that could be available for innovation are reduced in pursuitof the competition.6. Companies become complacent, believing they are secure if theymaintain market share.Innovators look for better ways to think and act.Innovators cultivate a creative mind set.Innovators focus on future goals and how to meet them.Innovators apply new technologies for new opportunities.Innovators translate raw data into useful action plans.Innovators profit from trends.Innovators strategically build change into the plan.Innovators adapt and try to master change.Innovators maximise their differential advantage.Innovators empower their people for positive action.Innovators help their people be more productive.Innovators integrate strategy, technology and people.Innovators encourage creativity in their people.Innovators turn problems into opportunities.1011