Maintaining Dynamic Equilibrium 変革と継続の実現

Management has to maintain the dynamic equilibrium
between change and continuity.

  My publisher in Japan, Diamond, recently published selected essays of mine, written over the last fifty years, under the title The Future Which Already Happened (The Ecological Vision, 1993). For this book, I wrote a kind of intellectual autobiography, which constitutes the last chapter of the book. In it, I record the beginning of my work more than sixty years ago, which was concerned with the balance between change and continuity. It was this concern that, ten years later, led me to the study of management. For I see in management, the specific organ of society that has to maintain the dynamic equilibrium between change and continuity, without which societies, organizations, and individuals perish.

ACTION POINT: Institute a systematic process of innovation to lead change.

Drucker on Asia

Maintaining Dynamic Equilibrium [毎日ドラッカー] The Daily Drucker: 366 Days of Insight and Motivation for Getting the Right Things Done Peter Ferdinand Drucker P.F.Drucker





変革と継続の実現 [毎日ドラッカー] ドラッカー 365の金言 ピーター・ドラッカー P.F.ドラッカー


2009.08.31 | Trackback(0) | Drucker ドラッカー

Finding Opportunity in Surprises 予期せぬ機会の追求

One scurvies problems by making them irrelevant because of success.

  Every surprise is something to be taken seriously. The entire reporting system kind of encourages the neglect of opportunities and surprises, but also it’s fairly easy to change. Fifty years ago, a friend and mentor of mine invented a system used in a big company that’s become very successful as a result. Every manager, down to the first-line supervisor, sits down every month and writes a letter with one subject: the unexpected. Not what went right or what went wrong, but the unexpected. And then they have a meeting and look at these things with the question: Does this tell us something? Now, the great majority don’t, the great majority are just anecdotes, but there are usually three or four that are relevant. And out of this, the company – a pharmaceutical company – has grown from a fairly unimportant commodity producer to one of the world’s leaders. And it’s come out of surprises, clinical surprises, like when a physician uses a medication for what it was not developed for and has amazing results. You have to focus on success, especially unexpected success, and run with it.

ACTION POINT: Write a letter to your boss each month identifying unexpected events. Pick out unexpected successes and pursue them.

“Meeting of the Minds,” Across the Board: The Conference Board Magazine

Finding Opportunity in Surprises [毎日ドラッカー] The Daily Drucker: 366 Days of Insight and Motivation for Getting the Right Things Done Peter Ferdinand Drucker P.F.Drucker





予期せぬ機会の追求 [毎日ドラッカー] ドラッカー 365の金言 ピーター・ドラッカー P.F.ドラッカー

2009.08.30 | Trackback(0) | Drucker ドラッカー

The Opportunity-Focused Organization 機会志向型組織の特徴

Performing organizations enjoy what they’re doing.

  Organizations have a gravity, the weight is constantly being pushed into being problem-focused, and one has to fight it all the time. Not very many organizations are good at what I call “exploitation of success.” Look at what is today the world’s largest consumer-electronics entertainment company: Sony. Basically, all Sony has ever done is run with the tape recorder and build on its success. But if you build that into the organization and demand it from everybody, then you create a receptivity for being opportunity-focused rather that problem-focused. And above all, you create enjoyment. I know this is not the academically respectable thing to say, but performing organizations enjoy that they’re doing. I’m always asked how I know what kind of an organization to accept as a client. When you walk through the door, you know in two minutes whether they enjoy it. And if they don’t enjoy it, then I’d rather not work for them. But if they like it and they feel that tomorrow is going to be better – that creates a totally different climate.

ACTION POINT: Do what you enjoy.

“Meeting of the Minds,” Across the Board: The Conference Board Magazine

The Opportunity-Focused Organization [毎日ドラッカー] The Daily Drucker: 366 Days of Insight and Motivation for Getting the Right Things Done Peter Ferdinand Drucker P.F.Drucker





機会志向型組織の特徴 [毎日ドラッカー] ドラッカー 365の金言 ピーター・ドラッカー P.F.ドラッカー

2009.08.29 | Trackback(0) | Drucker ドラッカー

Success Always Creates New Realities 成功がもたらす新しい現実

Only the fairy story ends “They lived happily ever after.”

  Success always obsoletes the very behavior that achieved it. It always creates new realities. It always creates, above all, its own and different problems. It is not easy for the management of a successful company to ask, “What is our business?” Everybody in the company thinks that the answer is so obvious as not to deserve discussion. It is never popular to argue with success, never popular to rock the boat. But the management that does not ask “What is our business?” when the company is successful is, in effect, smug, lazy, and arrogant. It will not be long before success will turn into failure.
  The two most successful American industries of the 1920s were anthracite coal mines and railroads. Both believed that God had given them an unshakable monopoly forever. Both believed that the definition of their business was so obvious as to eliminate all need for thought, let alone for action. Neither need have tumbled from its leadership position – the anthracite industry into total oblivion – had their managements not taken success for granted. Above all: when a management attains the company’s objectives, it should always ask seriously, “What is our business?” This requires self-discipline and responsibility. The alternative is decline.

ACTION POINT: Pick a product or service of your organization. How is the market share computed? What is your share of the market? Broaden your definition of the market (for example, from railroad to transportation). What is your share of the broader market?

Management: Tasks, Responsibilities, Practices

Success Always Creates New Realities [毎日ドラッカー] The Daily Drucker: 366 Days of Insight and Motivation for Getting the Right Things Done Peter Ferdinand Drucker P.F.Drucker





成功がもたらす新しい現実 [毎日ドラッカー] ドラッカー 365の金言 ピーター・ドラッカー P.F.ドラッカー

2009.08.28 | Trackback(0) | Drucker ドラッカー

Charlie Company: Research Strategy ニッチ追求型の研究開発戦略

Charlie Company does no research. It looks for areas where
a fairly simple development can give it a near-monopoly position
in a small but important area.

  Charlie Company does no research. All it does is develop. It will not tackle any of the products Able or Baker companies consider attractive. It looks for areas in medical and surgical practice where existing products are not doing a good job, and where a fairly simple change can greatly improve the doctor’s or surgeon’s performance. And it looks for fields that are so small that once there is truly superior product, there is no incentive for anyone else to go in and compete.
  Its first product was a simple enzyme – actually known for forty years – to make cataract operations virtually bloodless and greatly ease the eye surgeon’s job. All the work that had to be done was to find a way to extend the shelf life of enzyme. The next product was a very simple ointment to put on the umbilical cord of infants to prevent infection and speed up healing. It has become standard in every maternity hospital throughout the world. The company later brought out a product to replace the toxic solution with which newborn babies used to be washed to prevent infection – again, primarily a matter of compounding rather than discovering. In each area, the world market is so limited – maybe to $20 million – that a single supplier, provided it offers a truly superior product, can occupy a near-monopoly position with a minimum of competition and practically no pressure on price.

ACTION POINT: Test your organization’s innovative strategy against that of Charlie Company.

Management Cases

Charlie Company: Research Strategy [毎日ドラッカー] The Daily Drucker: 366 Days of Insight and Motivation for Getting the Right Things Done Peter Ferdinand Drucker P.F.Drucker





ニッチ追求型の研究開発戦略 [毎日ドラッカー] ドラッカー 365の金言 ピーター・ドラッカー P.F.ドラッカー

2009.08.27 | Trackback(0) | Drucker ドラッカー

Baker Company: Research Strategy 目的限定型の研究開発戦略

Baker’s aim is to come up with a small number of drugs in each field that
are clearly superior and offer significant advances to medical practice.

  The strategy of Baker Company is completely different. Its research lab, perhaps the most famous in the pharmaceutical industry, works in an enormous number of fields. It does not, however, enter a field until the basic scientific theoretical work has been done. Then it goes to work. Of every ten products that come out of its own laboratory, the company itself markets no more than two ore three. When it becomes reasonably clear that an effective drug will result from a line of research, the company carefully scrutinizes the product and, indeed, the entire field. First, is the new product likely to be medically so superior as to become the new “standard”? Second, is it likely to have major impact throughout the field of health care and medical practice rather than be confined to one specialty area, even a large one? And finally, is it likely to remain the “standard” for a good many years, rather than to be overtaken by competitive products?
  If the answer to any of these three questions is “No,” the company will license or sell the development, rather than convert it into a product of its own. This has been highly profitable in two ways. It has generated licensing income almost equal to the profits the company makes on the drugs it makes and sells under its own name. And it has assured that each of the company’s products is considered the “leader” by the medical profession.

ACTION POINT: Test your organization’s innovative strategy against that of Baker Company.

Management Cases

Baker Company: Research Strategy [毎日ドラッカー] The Daily Drucker: 366 Days of Insight and Motivation for Getting the Right Things Done Peter Ferdinand Drucker P.F.Drucker





目的限定型の研究開発戦略 [毎日ドラッカー] ドラッカー 365の金言 ピーター・ドラッカー P.F.ドラッカー

2009.08.26 | Trackback(0) | Drucker ドラッカー

Able Company: Research Strategy 総力結集型の研究開発戦略

Three Case Studies on Innovation Strategy

Three pharmaceutical companies – Able, Baker, and Charlie – are among the most successful pharmaceutical business in the world. Able and Baker are very large. Charlie is medium-sized, but growing fast. All three companies spend about the same percentage of their revenues on research. There the similarity ends. Each of them approaches research quite differently.

Able’s aim is to gain early leadership in a major area, acquire dominance in it, and then maintain this leadership position.

  Able Company – spends a great deal of research money on one carefully selected area at a time. It picks this area when pure research in the universities first indicates a genuine breakthrough. Then, long before commercial products are available, it hires the very best people in the field, and puts them to work. Outside of these areas, however, the company spends no research money and is perfectly willing not to be a factor at all. The company takes big positions in big fields at a very early stage, at great risk, but also at great reward.

ACTION POINT: Able Company is pursuing the _______ entrepreneurial strategy (see August 16) and the _______ window of opportunity (see July 12).

Management Cases

Able Company: Research Strategy [毎日ドラッカー] The Daily Drucker: 366 Days of Insight and Motivation for Getting the Right Things Done Peter Ferdinand Drucker P.F.Drucker





総力結集型の研究開発戦略 [毎日ドラッカー] ドラッカー 365の金言 ピーター・ドラッカー P.F.ドラッカー

2009.08.25 | Trackback(0) | Drucker ドラッカー

Threats to Niche Strategies ニッチ戦略の限界

While it lasts, the niche strategy is the most profitable
entrepreneurial strategy.

  What all niche strategies have in common is that they are unlikely to endure forever. One threat is for the niche to be outflanked, and especially by technological change. That happened to Alcon. Fifteen years after it became a worldwide near-monopoly, somebody in Czechoslovakia invented a new cataract operation, the implant lens, in which eye muscle has to be maintained rather than dissolved. And Alcon’s solvent became history.
  Another threat is if a niche becomes the main mass market. That’s what happened to the Travelers Cheque. Before World War II, a European trip for Americans was still the rare exception. Now the transatlantic jets carry more passengers in two days between Europe and the U.S. than all the steamships carried in an entire year before World War II. And the new mass traveler uses a credit card. And when the automobile market became a mass market, in the U.S. during World War I and in Europe and Japan after World War II, the intense pressure to cut costs meant that to be the niche supplier depending on a specialty skill ceased to yield niche profits. These players were the ones, and still are, on which the automobile companies put the greatest pressure to cut prices. And they had no choice but to yield.

ACTION POINT: Evaluate the threats of obsolescence to any of your products, processes, and services. Maintain a systematic program of innovation to offset inevitable threats to the products and services of your enterprise.

Innovation and Entrepreneurship
Entrepreneurial Strategies (Corpedia Online Program)

Threats to Niche Strategies [毎日ドラッカー] The Daily Drucker: 366 Days of Insight and Motivation for Getting the Right Things Done Peter Ferdinand Drucker P.F.Drucker





ニッチ戦略の限界 [毎日ドラッカー] ドラッカー 365の金言 ピーター・ドラッカー P.F.ドラッカー

2009.08.24 | Trackback(0) | Drucker ドラッカー

Ecological Niche: Specialty Market 専門市場戦略

With the specialty-market strategy the innovator must create
a small but profitable new market.

  The final niche strategy is to establish a specialty-market niche big enough to be profitable but small enough not to make it worthwhile for potential competitors to invade it. For example, the most profitable financial product for twenty or more years, from 1919 until World War II and even a decade beyond, was the American Express Travelers Cheque – a specialty-market niche. The Travelers Cheque was much safer than carrying a lot of cash and usable everywhere – they were accepted, for instance, by every European hotel. Banks sold the Cheques and got a small fee for each transaction. This not only kept American Express from needing to market the Cheques, but it also discouraged the banks from launching a competing service. And American Express made oodles of money because Cheque owners would hold the Cheques for months, or even years, before cashing them, during which time American Express had the “float,” that is, the interest-free use of the money the Cheque holders had paid. Everyone in the financial industry knew how profitable the Travelers Cheques were. But the market then was so small that there was no point in any major bank trying to muscle its way into it.

ACTION POINT: Describe your own examples of the three ecological-niche innovation strategies: Tollbooth, Specialty Skill, and Specialty Market. Exploit one or more of these ecological strategies.

Innovation and Entrepreneurship
Entrepreneurial Strategies (Corpedia Online Program)

Ecological Niche: Specialty Market [毎日ドラッカー] The Daily Drucker: 366 Days of Insight and Motivation for Getting the Right Things Done Peter Ferdinand Drucker P.F.Drucker





専門市場戦略 [毎日ドラッカー] ドラッカー 365の金言 ピーター・ドラッカー P.F.ドラッカー

2009.08.23 | Trackback(0) | Drucker ドラッカー

Ecological Niche: Specialty-Skill Strategy 専門技術戦略

If the specialty skill is properly maintained the innovator
is usually protected against competition.

  The second ecological niche is the specialty-skill strategy. Here the niche an innovator occupies is just as unique as in the tollbooth strategy, but it tends to be somewhat larger. For example, everyone can name the major U.S. automobile manufacturers. But how many people know the companies that make the brake pads or electrical circuits or headlamps that go into these cars? Those largely unknown companies occupy a specialty-skill position in an ecological niche. Developing high skill at a very early time in a new industry or market captures this position. Once the market begins to grow, the innovator has a significant head start over potential competitors and has already become the standard industry supplier.
  The best example is that of America’s leading twentieth-century inventor, Charles Kettering. Kettering aimed in all his inventions at creating a vastly profitable niche business. And his first, and probably the world’s most profitable invention, was aimed at creating a specialty-skill niche market. It was the self-starter. Until then, automobiles had to be started by cranking by hand, which was very hard and also quite dangerous. But for fifteen years or so, during the period of the most rapid growth in the automobile industry, every carmaker had to buy Kettering’s self-starter. It added very little to the cost of the car, maybe 1 or 2 percent. But Kettering’s profit margins were known to be around 500 percent or more.

ACTION POINT: Exploit rapidly growing segments in your industry by providing a specialty skill for that industry that improves upon existing operations.

Innovation and Entrepreneurship
Entrepreneurial Strategies (Corpedia Online Program)

Ecological Niche: Specialty-Skill Strategy [毎日ドラッカー] The Daily Drucker: 366 Days of Insight and Motivation for Getting the Right Things Done Peter Ferdinand Drucker P.F.Drucker





専門技術戦略 [毎日ドラッカー] ドラッカー 365の金言 ピーター・ドラッカー P.F.ドラッカー

2009.08.22 | Trackback(0) | Drucker ドラッカー

Ecological Niche: Tollbooth Strategy 関所戦略

If the innovator succeeds, it will have a nearly impenetrable position.

  The fourth major entrepreneurial strategy, occupying an ecological niche, allows an innovator to establish a virtual monopoly in a small niche market. The first niche strategy is the tollbooth strategy. Under the tollbooth strategy, the innovator creates a product or service that is an indispensable part of a large process. Then the cost of using the product becomes eventually irrelevant. Here the market must be so limited that whoever occupies the niche first is able to effectively bar anyone else from entering it.
  Here is an example: Alcon, a company started in the late 1950s by a salesman for a major pharmaceutical company. He had known all along that there was a major incongruity in the operation for senile cataracts in the eyes. There was one dangerous procedure in the surgery where the surgeon had to sever a piece of muscle tissue with a slight risk of bleeding that would destroy the eye. The innovator read up on what was known about this muscle and found almost immediately that an enzyme dissolved it without bleeding or cutting. But there had been no way to prevent this enzyme from disintegrating and to give it shelf life. Then the innovator found that since 1890 a number of substances had been developed to give enzymes stability and shelf life. He patented the application of one of these substances to the enzyme, and within eighteen months he had the world market for the stuff.

ACTION POINT: Exploit an incongruity in an internal process using the tollbooth strategy.

Innovation and Entrepreneurship
Entrepreneurial Strategies (Corpedia Online Program)





2009.08.21 | Trackback(0) | Drucker ドラッカー

Changing Economic Characteristics 価格戦略

Successful innovators price according to what the customer pays for.

  Under the other entrepreneurial strategies, the innovator has to come up with an innovator product or service; here the strategy itself is the innovation. The innovative strategy converts an existing product or service into something new by changing its utility, its value, and its economic characteristics. There is new economic value and new customers, but no new product or service. Often the most successful way to change the economic characteristics of a product or service is to change its pricing. In the end the producer gets at least the same amount of money, if not a good deal more. But the way pricing is structured reflects the customer’s reality rather than the reality of the producer.
  Here is an example. The Internet was designed as an information network. And most providers charged for access to it, such as for hosting an e-mail address. But Yahoo and other companies give away Internet access. It gets paid for by advertisers whose ads the customers have to see when they go online. Yahoo asked: “Who is the customer?” Its answer: “It’s a supplier who wants access to a potential customer.” This changed the characteristics of the industry. It gave the Internet a new dimension.

ACTION POINT: Determine what your customers really buy. Serve them in a way that better meets their needs and also creates enhanced economic results for your organization.

Innovation and Entrepreneurship
Entrepreneurial Strategies (Corpedia Online Program)





2009.08.20 | Trackback(0) | Drucker ドラッカー

Entrepreneurial Judo 柔道戦略

Entrepreneurial Judo turns what the market leaders consider their
strengths into the very weakness that defeat them.

  The Japanese judo master looks for the strength that is his opponent’s pride and joy. He assumes, and does so with high probability, that the opponent bases his strategy on this strength in every fight. And then the judo master figures out where this continuing reliance on a particular strength leaves the opponent vulnerable and undefended. Then he turns his opponent’s strength into the opponent’s fatal weakness that defeats the opponent.
  Businesses, like judo fighters, tend to become set in their behaviors. And then Entrepreneurial Judo turns what the market leaders consider their strengths into the very weakness that defeat them. For example, the Japanese became the leaders in one American market after the other: first in copiers, then in machine tools, then in consumer electronics, then in automobiles, and then in fax machines. The strategy was always the same. They turned what the American considered their strength into a weakness that defeated the American companies. The Americans saw high profitability as their greatest strength. And thus they focused on the high end of the market and left the mass market undersupplied and underserviced. The Japanese moved in with low-cost products with minimum features. The Americans didn’t even try to fight them. But when the Japanese had taken over the mass market they had the cash flow to move in on the high-end market, too. And they soon came to dominate both the mass market and the high-end market.

ACTION POINT: Be agile, recognize the strengths of your competitors, and look for opportunities in parts of the market that they have ignored.

Innovation and Entrepreneurship
Entrepreneurial Strategies (Corpedia Online Program)





2009.08.19 | Trackback(0) | Drucker ドラッカー

Hitting Them Where They Aren’t 創造的模倣

“Hitting them where they aren’t” outflanks the leader by creative imitation.

  Here, the innovator doesn’t create a major new product or service. Instead, it takes something just created by somebody else and improves upon it. This is imitation. But it is creative imitation because the innovator reworks the new product or service to better satisfy customer’s wants and needs. Once the innovator succeeds in creating what customers want, it can achieve leadership and take control of the market.
  The perfect example is how IBM became the leading producer o PCs in the 1970s. Apple invented the PC. When the Apple appeared, it was an instant sensation. IBM set to work to outflank the Apple. It asked, “What are Apple’s shortcomings?” Within eighteen months IBM had on the market a PC that did everything the PC customers needed and wanted but had what the Apple lacked: software. And within another year IBM’s PC had become the market leader worldwide; it held that position for more than ten years. And Apple had become marginal. It almost went under and only turned itself around into a respectable niche player twenty-odd years later, in the late 1990s.

ACTION POINT: Look for a successful innovation of a competitor’s and improve upon it, thus outflanking your competitor.

Innovation and Entrepreneurship
Entrepreneurial Strategies (Corpedia Online Program)





2009.08.18 | Trackback(0) | Drucker ドラッカー

First with the Most 総力戦略

“Being Fustest with the Mostest.”

  “First with the most” was the expression used by a Confederate general to describe his cavalry unit’s consistent victories in the Civil War. In business, it describes the strategy in which an innovator looks to attain leadership, if not outright dominance. This is the entrepreneurial strategy with the potentially highest rewards; but it’s also the most risky one. There can be no mistakes or second chances. The outcome is either market and industry leadership or nothing at all. Entrepreneurs must be right the first time; otherwise, they fail. For every innovator that succeeds with this strategy, dozens fail. Yet if the “first with the most” strategy succeeds, the innovator reaps tremendous rewards. It’s the strategy that underlies the success and market leadership of such giants as 3M, Procter & Gamble, Intel, and Microsoft.
  Yet there is a special risk to this strategy: to achieve initial success, then to be outflanked by someone practicing the next entrepreneurial strategy, “hitting them where they aren’t.” For example, the two young engineers who started the Apple computer company in the proverbial garage, without financial backers or previous business experience, aimed from the beginning at creating an industry and dominating it. But they were soon outflanked by IBM.

ACTION POINT: When you develop a new product, process, or service, remember, protect your flank.

Innovation and Entrepreneurship
Entrepreneurial Strategies (Corpedia Online Program)





2009.08.17 | Trackback(0) | Drucker ドラッカー

Exploiting Innovative Ideas 4つの起業家戦略

Creativity is sexy, but the real problem is the shockingly
high morality rate of healthy new products or services.

  There usually are more good ideas in even the stodgiest organization than can possibly be exploited. The real problem is the shockingly high morality rate of healthy new products or services. And like yesterday’s infant morality rate, the morality rate of new products and services is totally unnecessary. It can be reduced fairly fast and without spending a great deal of money. Much of it is simply the result of ignorance of the entrepreneurial strategies. The right entrepreneurial strategy has a very high chance of success.
  There are four specifically entrepreneurial strategies aiming at market leadership: being “Fustest with the Mostest”; “Hitting Them Where They Ain’t”; finding and occupying a specialized “ecological niche”; and changing the economic characteristics of a product, a market, or an industry. These four strategies are not mutually exclusive. One and the same entrepreneur often combines two, sometimes even elements of three, in one strategy. Still, each of these four has its prerequisites. Each fits certain kinds of innovation and does not fit others. Each requires specific behavior on the part of the entrepreneur. Finally, each has its own limitations and carries its own risks.

ACTION POINT: Be systematic in exploiting innovative ideas, remembering these four strategies for success.

Innovation and Entrepreneurship
Entrepreneurial Strategies (Corpedia Online Program)





2009.08.16 | Trackback(0) | Drucker ドラッカー

Finding Opportunities in Vulnerabilities 事業機会実現のための行動

Finding and realizing the potential of a business
is psychologically difficult.

  Finding and realizing the potential of a business is psychologically difficult. It will always be opposed from within because it means breaking with old, established habits. It often means giving up the very skill people are proudest of. To fight the threat, to manage an imbalance, and above all to make a process efficient despite its inherent weaknesses, requires great effort.
  Searching for the potential of opportunity in a company’s vulnerabilities, limitations, and weaknesses is therefore likely to be resented by its most accomplished people as a direct attack on their position, pride, and power. This is the reason why the opportunities are often not realized by the industry leaders but by people on or near the outside. That this area is difficult, both objectively and psychologically, only means that businesses have to work hard at it and that managements have to stress it heavily.

ACTION POINT: Convert the vulnerabilities of your enterprise into opportunities.

Managing for Results





2009.08.15 | Trackback(0) | Drucker ドラッカー

Unrealized Business Potential 事業機会の発見

“Opportunity is where you find it,” not where if finds you.

  Luck, chance, and catastrophe affect business as they do all human endeavors. But luck never built a business. Prosperity and growth come only to the business that systematically finds and exploits its potential. No matter how successfully a business organizes itself for the challenges and opportunities of the present, it will still be far below its optimum performance. Its potential is always greater than its realized actuality.
  Dangers and weaknesses indicate where to look for business potential. To convert them from problems into opportunities brings extraordinary returns. Opportunities have to be reflected against the experience of a company and against its past successes and failures. Sometimes all that is needed to accomplish this transformation is a change in the attitude of the executives. Three questions will bring out the hidden potential of a business:

  • What are the restraints and limitations that make the business vulnerable?
  • What are the imbalances of the business?
  • What are we afraid of, what do we see as a threat to this business – and how can we use it as an opportunity?

ACTION POINT: Answer these three questions for your enterprise and move closer to optimum performance.

Managing for Results





2009.08.14 | Trackback(0) | Drucker ドラッカー

Management Team for the New Venture ベンチャーのトップチーム

Key activities are not to be found in books.
They emerge from analysis of the specific enterprise.

  Whenever the objective economic indicators of a new venture indicate that the business may double within three or five years, then it is the duty of the founder or founders to build the management team the new venture will soon require. First of all the founders, together with other key people in the firm, will have to think through the key activities of their business. What are the specific areas upon which the survival and success of this particular business depend? Every activity that any member of the group thinks belongs there should go down on the list.
  The next step is, then, for each member of the group, beginning with the founder, to ask; “What are the activities that I am doing well?” And what are the activities that each of my key associates in this business is actually doing well?” Next one asks: “Which of the key activities should each of us, therefore, take on as his or her first and major responsibility because they fit the individual’s strengths? Which individual fits which key activity?” Then the work on building a team can begin. But all key activities need to be covered by someone who has proven ability in performance.

ACTION POINT: Examine a successful new venture either inside or outside of your enterprise. Was the innovator successful in defining key activities and assigning those to people of proven competence?

Innovation and Entrepreneurship





2009.08.13 | Trackback(0) | Drucker ドラッカー

Managing Cash in the New Venture ベンチャーの運転資金

There is an old banker’s rule of thumb according to which one assumes
that bills will have to be paid sixty days earlier than expected
and receivables will come in sixty days later.

  Entrepreneurs starting new ventures are rarely unmindful of money; on the contrary, they tend to be greedy. They therefore focus on profits. But this is the wrong focus for a new venture, or rather, it comes last rather than fast. Cash flow, capital, and controls come much earlier. Without them, the profit figures are fiction – good for twelve to eighteen months, perhaps, after which they evaporate. Growth has to be fed. In financial terms this means that growth in a new venture demands adding financial resources rather than taking them out. The healthier a new venture and the faster it grows, the more financial feeding it requires.
  The new venture needs cash-flow analysis, cash-flow forecasts, and cash management. The fact that America’s new ventures of the last few years (with the significant exception of high-tech companies) have been doing so much better than new ventures used to do is largely because the new entrepreneurs in the United States have learned that entrepreneurship demands financial management. Cash management is fairly easy if there are reliable cash-flow forecasts, with “reliable” meaning “worst case” assumptions rather than hopes. If the forecast is overly conservative, the worst that can happen is a temporary cash surplus.

ACTION POINT: Develop “worst case” estimates of cash flow and cash forecasts for new ventures. Monitor receivable and inventory levels closely.

Innovation and Entrepreneurship





2009.08.12 | Trackback(0) | Drucker ドラッカー

The Rapidly Growing New Venture ベンチャーの財務

The more successful a new venture is, the more dangerous
the lack of financial foresight.

  The lack of adequate financial focus on the right financial policies is the greatest threat to the new venture in the next stage of its growth. It is, above all, a threat to the rapidly growing new venture. Suppose that a new venture has successfully launched its product or service and is growing fast. It reports “rapidly increasing profits” and issue rosy forecasts. The stock market then “discovers” the new venture, especially if it is high-tech or in a field otherwise currently fashionable. Predictions abound that the new venture’s sales will reach a billion dollars within five years.  Eighteen months later, the new venture collapses. It is suddenly awash in red ink, lays off 180 of its 275 employees, fires the president, or is sold at a bargain price to a big company. The causes are always the same: lack of cash; inability to raise the capital needed for expansion; and loss of control, with expenses, inventories, and receivables in disarray. These three financial afflictions often hit together at the same time. Yet any one of them by itself endangers the health, if not the life, of the new venture. Once this financial crisis has erupted, it can be cured only with great difficulty and considerable suffering.

ACTION POINT: Develop sound financial plans and controls for your new venture. Don’t look at your accounting and finance people as “bean counters.”

Innovation and Entrepreneurship





2009.08.11 | Trackback(0) | Drucker ドラッカー

The Infant New Venture ベンチャーマネジメント

Businesses are not paid to reform customers.

  Above all, the people who are running a new venture need to spend time outside: in the market place, with customers, and with their own sales force, looking and listening. The new venture needs to build in systematic practices to remind itself that a “product” or a “service” is defined by the customer, not by the producer. It needs to work continuously on challenging itself in respect to the utility and value that its products or services contribute to customers. The greatest danger for the new venture is to “know better” that the customer what the product or service is or should be, how it should be bought, and what it should be used for. Above all, the new venture needs willingness to see the unexpected success as an opportunity rather than as an affront to its expertise. And it needs to accept that elementary axiom of marketing: Businesses are not paid to reform customers. They are paid to satisfy customers. Lack of market focus is typically a disease of the “neonatal,” the infant new venture. It is the most serious affliction of the new venture in its early stages – and one that can permanently stunt even those that survive.

ACTION POINT: See the unexpected success of a new venture as an opportunity not as a problem.

Innovation and Entrepreneurship





2009.08.10 | Trackback(0) | Drucker ドラッカー

Research Laboratory: Obsolete? 企業研究所の陳腐化

Technologies crisscross industries and travel incredibly fast.

  What accounts for the decline in the number of major corporate research labs? The company-owned research laboratory was one of the nineteenth century’s most successful inventions. Now many research directors, as well as high-tech industrialists, tend to believe that such labs are becoming obsolete. Why? Technologies crisscross industries and travel incredibly fast, making few of them unique anymore. And increasingly, the knowledge needed in a given industry comes out of some totally different technology with which, very often, the people in the industry are quite unfamiliar. As a result the big research labs of the past are becoming obsolete.
  The research laboratory of the big telephone companies, the famous Bell Laboratories of the U.S., was for many decades the source of all major innovations in the telephone industry. But no one in that industry worked on fiberglass cables or had ever heard of them. They were developed by a glass company, Corning. Yet they have revolutionized communications worldwide.

ACTION POINT: Scan the environment for a technology developed in another industry that can help you now.

Managing in the Next Society
The Next Society (Corpedia Online Program)





2009.08.09 | Trackback(0) | Drucker ドラッカー

Social Innovation: The Lab Without Walls 国家プロジェクト

Steinmetz’s technology-driven science is anathema to many academic scientists.

  Steinmetz’s innovation also led to the “lab without walls,” which is America’s specific, and major, contribution to very large scientific and technological programs. The first of these, conceived and managed by President Franklin D. Roosevelt’s former law partner, Basil O’Connor, was the National Foundation for Infantile Paralysis (March of Dimes), which tackled polio in the early 1930s. This project continued for more than twenty-five years and brought together in a planned, step-by-step effort a large number of scientists from half a dozen disciplines, in a dozen different locations across the country, each working on his own project but within a central strategy and under overall direction.
  This then established the pattern for the great World War II projects: the RADAR lab, the Lincoln Laboratory, and, most massive of them all, the Manhattan Project for atomic energy. Similarly, NASA organized a “research lab without walls” when this country decided, after Sputnik, to put a man on the moon. Steinmetz’s technology-driven science is still highly controversial. Still, it is the organization we immediately reach for whenever a new scientific problem emerges, for example, when AIDS suddenly became a major medical problem in 1984-85.

ACTION POINT: Terrorism is a major social problem confronting the civilized world. How can this problem be turned into a “Manhattan” type R and D project?

The Ecological Vision





2009.08.08 | Trackback(0) | Drucker ドラッカー

Social Innovation: The Research Lab 技術のための科学

Management is increasingly becoming the agent of social innovation.

  The research lab dates back to 1905. It was conceived and built for the General Electric Company in Schenectady, New York, by one of the earliest “research managers,” the German-American physicist Charles Proteus Steinmetz. Steinmetz had two clear objectives from the start: to organize scientific work for purposeful technological invention and to build continuous self-renewal through innovation into that new social phenomenon – the big corporation.
  Steinmetz’s lab radically redefined the relationship between science and technology in research. In setting the goals of his project, Steinmetz identified the new theoretical science needed to accomplish the desired technological results and then organized the appropriate “pure” research to obtain the needed new knowledge. Steinmetz himself was originally a theoretical physicist. But every one of his “contributions” was the result of research he had planned and specified as part of a project to design and to develop a new product line, for example, fractional horsepower motors. Technology, traditional wisdom held and still widely holds, is “applied science.” In Steinmetz’s lab, science – including the purest of “pure research” – is technology-driven, that is, a means to a technological end.

ACTION POINT: Follow the example of Steinmetz and do market-driven research and development.

The Ecological Vision





2009.08.07 | Trackback(0) | Drucker ドラッカー

Tunnel-Vision Innovation イノベーションの意外性

Often a prescription drug designed for a specific ailment sometimes ends
up being used for some other quite different ailment.

  When a new venture does succeed, more often than not it is in a market other than the one it was originally intended to serve, with products or services not quite those with which it had set out, bought it large part by customers it did not even think of when it started, and used for a host of purposes besides the ones for which the products were first designed. If a new venture does not anticipate this, organizing itself to take advantage of the unexpected and unseen markets; if it is not totally market-focused, if not market-driven, then it will succeed only in creating an opportunity for a competitor.
  The new venture therefore needs to start out with the assumption that its product or service may find customers in markets no one thought of, for uses no one envisaged when the product or service was designed, and that it will be bought by customers outside its field of vision and even unknown to the new venture. If the new venture does not have such a market focus from the very beginning, all it is likely to create is the market for a competitor.

ACTION POINT: When innovating, go with the market response, not with your preconceived ideas. Don’t marry your pet ideas about a new venture.

Innovation and Entrepreneurship





2009.08.06 | Trackback(0) | Drucker ドラッカー

Calculated Obsolescence 体系的廃棄

Being the one who makes your product, process, or service obsolete is the
only way to prevent your competitor from doing so.

  Innovating organizations sped neither time nor resources on defending yesterday. Systematic abandonment of yesterday alone can free the resources, and especially the scarcest resource of them all, capable people, for work on the new.
  Your being the one who makes your product, process, or service obsolete is the only way to prevent your competitor from doing so. One major American company that has long understood and accepted this is DuPont. When nylon came out in 1938, DuPont immediately put chemists to work to invent new synthetic fibers to compete with nylon. It also began to cut nylon’s price – thus making it less attractive for would-be competitors to find a way around DuPont’s patents. This explains why DuPont is still the world’s leading synthetic-fiber maker, and why DuPont’s nylon is still in the market, and profitably so.

ACTION POINT: Cannibalize your own products before your competitor does.

Managing for the Future





2009.08.05 | Trackback(0) | Drucker ドラッカー

Managing the New Venture ベンチャーのマネジメント

Every new project is an infant and infants belong in the nursery.

  Innovative efforts, especially those aimed at developing new businesses, products, or services, should normally report directly to the “executive in charge of innovation.” They should never report to line managers charged with responsibility for ongoing operations. Unfortunately, this is a common error.
  The new project is an infant and will remain one for the foreseeable future, and infants belong in the nursery. The “adults,” that is, the executives in charge of existing businesses or products, will have neither time nor understanding for the infant project. The best-known practitioners of this approach are three American companies: Procter & Gamble, the soap, detergent, edible oil, and food producer; Johnson & Johnson, the hygiene and health-care supplier; and 3M, a major manufacturer of industrial and consumer products. These three companies differ in the details of practice, but essentially all three have the same policy. They set up the new venture as a separate business from the beginning and put a project manager in charge.

ACTION POINT: Keep infant businesses in the nursery. Separate “infants” from “adults.”

Innovation and Entrepreneurship





2009.08.04 | Trackback(0) | Drucker ドラッカー

Growth 成長の最適点

Growth that results only in volume and does not produce higher
overall productivities is fat – it should be sweated.

  Management needs to think through the minimum of growth that its company requires. What is the minimum of growth without which the company would actually lose strength, vigor, and ability to perform, if not to survive? A company needs a viable market standing. Otherwise it soon becomes marginal. It soon becomes, in effect, the wrong size. And if the market expands, whether domestically or worldwide, a company has to grow with the market to maintain its viability. At times a company therefore needs a very high minimum growth rate.
  A business needs to distinguish between the wrong kind of growth and the right kind of growth, between muscle, fat, and cancer. The rules are simple: Any growth that, within a short period of time, results in an overall increase in the total productivities of the enterprise’s resources is healthy growth. It should be fed and supported. But growth that results only in volume and does not, within a fairly short period of time, produce higher overall productivities is fat. Any increase in volume that does not lead to higher overall productivity should be sweated off again. Finally, any increase in volume that leads to reduced productivities should be eliminated by radical surgery – fast.

ACTION POINT: Determine the minimum growth rate for maintaining your organization’s market standing.

Managing in Turbulent Times
Management: Tasks, Responsibilities, Practices





2009.08.03 | Trackback(0) | Drucker ドラッカー

Being the Wrong Size 規模の不適切さ

A business that is the wrong size is a business that does not have the right niche to survive and prosper.

  Being the wrong size is a chronic, debilitating, wasting – and a very common – disease. Being the wrong size is curable in the majority of cases. But the cure is neither easy nor pleasant. The symptoms are clear and are always the same. In a business that is the wrong size, there is always one area, activity, function, or effort – or at most a very few – that is out of all proportion and hypertrophied. This are has to be so big, requires so much effort, and imposes so much cost on the business as to make economic performance and results impossible. The old American Motors furnishes the example. American Motors announced successive plans to aggressively recruit and strong dealers and push up its sales. In order to obtain the sales volume that would have given the business a viable size, the expenses that made the business nonviable had to be increased. And this is precisely what the business could not afford.
  The most rewarding strategy to come to grips with the problems is to attempt to change the character of the business. A business that is the wrong size is a business that does not have the right niche to survive and prosper. A comparison between American Motors and Volkswagen shows the difference between being the wrong size as a result of lack of distinction, and being the right size by occupying a distinct niche.

ACTION POINT: Analyze your business. Are you too small to compete in the business? If so, develop a profitable niche within which you can compete effectively.

Management: Tasks, Responsibilities, Practices





2009.08.02 | Trackback(0) | Drucker ドラッカー

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【スエルテ - SUERTE】

Author:【スエルテ - SUERTE】
ピーター・ドラッカー(P.F.ドラッカー、Peter Ferdinand Drucker)の鋭い洞察力および示唆に富んだ文章は我々を魅了します。
『The Daily Drucker(ドラッカー 365の金言)』を元に毎日解説していきます。