It is absolutely essential to face the facts when a brand is in turnaround mode. Letting everyone know exactly where the brand stands relative to where the brand should be is a critical step. Facing the facts is the starting point for revitalization.
Nolan Bushnell knew he had a hit when he heard about the trouble at Andy Capp’s Tavern. Atari’s founder had created only one prototype of its first video game, Pong, and it had stopped working after just two weeks – the can for collecting coins kept getting overstuffed.
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It’s no easy feat to build a healthy brand that stands the test of time while continuing to advance category leadership. Focus, persistence, and sound strategy will be required to stay ahead of the drumbeat of constant change and the surprises of unexpected and disruptive business conditions.
There’s one, single component of a company’s culture that has more impact than any other on innovation: truthfulness. Truth-telling is foundational for cultures that prize speed, creativity, decisiveness, and risk-taking. But it’s often missing. Here’s why:
