Transitions

Transitions I read a quote the other day that resonated with me, and I thought that I would share it for this week’s column. Craig Barrett, the retired CEO of Intel, said in a speech recently, “There is a general rule in business life: Market share is won or lost during transitions.” The quote caused me to reflect that we are once again in a time and at a place that will define our economic future. The lesson learned following the shocks of September 2008, and every severe economic downturn that preceded it, is that those who are not meek of heart and sense an opportunity are able to take market share from and capitalize on businesses that are caught short and do not advance. From an organizational point of view, this is again a time to remove weak performers and recruit top talent. All too often companies address the removal phase, but do not have the vision to go into the market and recruit to build a stronger bench.