Any competitive enterprise is a race of some sort.
You train to be better at the techniques you know. You seek out coaches who can help you achieve that new advantage.
Occasionally, someone comes along with an innovation, like the Fosbury flop in 1968, that everyone rapidly copies.
Just like athletes, your organization has to train and innovate, if it is going to be in the race, never mind win.
No profitable niche or sector is immune to the attention of the world class competitors.
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We live in a global economy where distance to market has become less important in many sectors. I don’t think an arithmetical formula is helpful in defining a world class organization.
My thrust here is to pick out a few threads that can be woven together to make your organization move towards world class performance.
We don’t all operate in sectors that have world class competitors. I wouldn’t feel too smug though. You may be selling fast food or be a beautician painting nails, but did you ever hear of Dominoes or Avon?
One thing is for sure, you won’t be able to react fast enough to a competitive threat on that scale. If you look back half a century in the UK, you see sector after sector falling to international competition.
Yes, we are much fitter businesses these days, but let me share some results with you from the 2016 Olympics, the Men’s 10,000 metres.
These were all world class athletes. Mo Farah won the race in 27min 5.17sec and was deservedly applauded for an amazing performance, the best in the world on the day.
However, he was just 0.47 seconds faster than Paul Tanui, second across the line.
He was only 99.97% as fast as Mo Farah.
Number 10 in that race, Abraham Cheroben, was 98.38% as fast. You would have to be an athletics fan to remember his name.
What ranking would you give your business? First, tenth, hundredth?
Let’s talk about moving your organization from good to outstanding!
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