Values (Beliefs, Passions…) Not Synonymous with Business Model
Posted in Leadership, Lean Business Strategy, Operational Excellence on October 28th, 2009 by LeanThinker – Comments OffKevin Meyer, in his “Evolving Excellence” blog post today is very much on target concerning the declining importance and influence of traditional media.
“Two different articles both appearing yesterday and discussing obliquely-similar industries got me to wondering about business models and commitment to those models. How long should an organization stay committed to a model? When should it change? What should trigger change? The meat of the articles is nothing new and simply part of a long-term trend, but the data supporting the trend was just updated.”
“If you stay true to your beliefs and your passion, is it enough?” Kevin asks midway through his post…
The business model, on the other hand, is how we think and execute during the process of serving customers and stakeholders, while at the same time upholding those values. Yes, it is critical that these values somehow manifest themselves in the business model, but they are only a small part of the total picture.
I agree that no business can succeed in the long-run without strong beliefs and passion, but the business model itself must evolve and transform over time. Toyota started out by making and selling weaving looms; Honda began with motorized two-wheeled vehicles; I’ve had to reinvent my own executive recruiting practice three times during the 15+ years I’ve been doing this.
So news organizations, just as every other company, should constantly reinvent to stay competitive in their market place. That’s not betraying beliefs and passions; it’s staying true to them by continually figuring out how to deliver ever more exceptional customer value.
Let’s hope they figure out their new future state in the market sooner rather than later. Long live the Lean Manufacturing (now Lean Management) business model.
