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Geoff Colvin: The Upside of the Downturn
Geoff Colvin: The Upside of the Downturn

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The business world - as it relates to strategy and human capital.

Tortoise and the Hare...

Thursday, May 27, 2004

I am a big fan of competition, heck, I am a fan of Hypercompetition...

So yesterday... there I am at a hotel/conference centre, which out of respect will remain nameless.. but, even now I wonder why I'm hiding.. whatever..

Anyway, this hotel, towered over all others in the neighbourhood, both structurally, and with the amount of business it attracts...it is the local fall back, when all the other smaller venues are booked up..

It was appalling. It was messy, poorly managed, and run down. However, it was the most expensive, and the most popular...

My point? When companies, organizations, or even hotels for that matter feel that they have the market sewn up, and they are head and shoulders above their rivals, they get lazy. It happens time and time again. You stick to a model so long, that you start to lose focus in it.

I can only imagine if a rival hotel sets up shop in the area, building a world-class facility, run in a world class manner... How long would it take this existing hotel to get in gear, let alone up to speed...?

Everything is in motion, stay in motion. To quote the US Marines, "the more you sweat in peace, the less you bleed in war".

Now I'm not advocating slow and steady wins the race.. it doesn't! Fast consistent change has to happen. Always.

Believe me, the next event we book, I will try EVERY other hotel in the area before I go back to that one...

How many of your customers think this type of thing about you?