This software company could use a little advice from Larry Bossidy, former chairman of Honeywell and author of Confronting Reality: Doing What Matters To Get Things Right, who I recently heard speak at the World Business Forum. Great companies need to be "perpetually adaptable." Too many people, he says, hold onto good ideas for too long simply because they work. Smart business strategy not only means setting growth plans for the business and taking steps to improve productivity but also identifying the things (margins, customer satisfaction) that put a business behind where it wants to be, Bossidy says. "You'd be surprised and shocked by the number of companies unwilling to confront the issues that separate them from greatness." Great companies identify those weaknesses and quickly work to fix them.
Bossidy's book should be a must-read for any company that's feeling a little sluggish in strategy, operations, or leadership.