Create Competitive Advantage with Innovation (Collection)

7. Transformation

“Everybody has accepted by now that ‘change is unavoidable.’ But this still implies that change is like ‘death and taxes’: It should be postponed as long as possible, and no change would be vastly preferable. But in a period of upheavals, such as the one we are living in, change is the norm.”

—Peter F. Drucker in Management Challenges for the 21st Century

Overview

In the year 2000, as companies were putting the Y2K computer bug behind them and the world was ushering in the new millennium, A.G. Lafley was appointed the new CEO of P&G after several years of disappointing growth. He soon challenged his employees to think differently as he famously announced a bold goal of tapping the outside world for 50 percent of all new ideas ...