From There to Here : Business Strategy Is About Vision Versus M Em

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REGIONAL AFRICAN PRO JECT M ANAGEMENT CONFERENCE ‘99 FRO M TH ERE TO HERE : BUSINESS STRATEGY IS ABOUT VISION VERSUS MEMORY PRO F NICK BINEDELL WALMART 1960 1970 1980 1990 1995 1999(f) Sales $1.4m $31m $1.2b $26b $82.5b$137.6b Profits $112 000 $1.2m $41m $2.68b$4.43b Stores 9 32 276 1 528 2 943 3 599 MARKET EQ U ITY VALUES (MAY 1999) (Billion USD) Market Cap Real WorldNet WorldMarket Cap $149.8Pfizer = A m erica Online $149.8 $34.7Allied Signal = Yahoo $34.5 $24.3JP Morgan = EBay $24.0 $23.0Alcoa = Am azon.com $23.0 $17.7FedEx=Priceline.com $17.9 $16.9Lockheed Martin=@Home $16.8² $13.5AMR (A m erican =E*Trade $12.9 Airlines) Strategic States of Mind •Proactive • Reactive •Non-active? M ANAGING TRANSITION THE MILLENNIUM CHALLENGE •Competitiveness • Com petence •Context • Change •Commitm e n t THE MILLEN IUM CHALLENGE General M anagem ent Role and Skills > 2000 MILLEN IUM 1990 - 2000 TRANSITIONAL < 1990 TRADITIONAL VISION What can we do, th a t our RESOURCES & custom ers want us to do, MARKET CAPABILITIES th a t our com petito rs can’t ALIGNM ENT do? ORGANISATION The key to discovering a new value curve lies in asking four basic questions: Reduce What factors should be reduced well below the industry standard? Eliminate Create What factors should What factors should be eliminated that New Value be created that the the industry has Curve industry has never taken for granted? offered? What factors should be raised well beyond the industry standard? Raise KEY PRINCIPLES •It looks th e sam e - nothing is th e sam e •Anything is possible •Learn from everybody - copy no one •Pro-active com panies create th e fu tu re th rough shrew d fo re s ight •A Business perfo rm s when it does som ething distinctive th a t th e custom er wants it to do •Leadership is th e ability to create change before it is necessary •Unless you lead, th e memory of th e past will be stronger th a n th e vision of th e fu tu re •Business leaders create an environm ent in which others can create value •Structure, system s and cultu re will drive strategy, unless th e reverse is true • Change your direction before som eone else does CURRICULUM VITAE PROFESSOR NICK BINEDELL Nick Binedell is currently Director designate of the Gordon Institute of Business Science being established in Illovo, Johannesburg by the University of Pretoria. He was previously the Director of the Wits Business School (1992 – 1997). His academic qualifications include a PhD from the University of Washington in Seattle, an MBA from the University of Cape Town and a Bachelor of Commerce degree from Rhodes University. He is a member of the American Academy of Management and in 1997 and 1998 was voted the most admired individual in management education in South Africa by the Professional Management Review. Born in Zimbabwe, he lived in Germany, Kenya, Yemen, and the United Kingdom by the time he was ten. His area of expertise is in the field of business strategy formulation and general management and for the past 13 years he has been lecturer and consultant working both in South Africa and United States. Project Management Institute South Africa (PMISA) ‘Regional African Project Management’ South Africa, 3 – 5 November 1999 Edited Conference Presentations Document Transformation Technologies.

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