“They prefer stability over conflict, continuity over disorder, and GM’s way over anybody else’s. They believe that hard work will overcome adversity, and that tomorrow will be better than today – despite four decades of evidence to the contrary. In many ways the story of General Motors since the 1960s is a tale of accelerating irrelevance. Customer preferences changed, competition tightened, technology made big leaps, and GM was always driving a lap behind….. Over the years the company has tried to reform itself any number of times, but it has been doomed by what ONCE made it successful: doing it the GM way.”
Alex Taylor III, a writer that has been covering GM for the last three decades. This quote is from his latest article in the December issue of Fortune. I am sure you are all familiar with GM’s woes, but consider this -Toyota, through their progressive direction of capitalizing on changing consumer interests and technology is no where near needing a bailout and has a market cap of $103.6 Billion. GM, who has said they are not interested in thinking like Toyota, has a market cap of $1.8 Billion.
If you want to be relevant in business and stay there, consumer driven-continual change, harvesting technology to your benefit and some level of conflict and disorder are all conditions of success. You can quote me on that…