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ARTICLE · 24 JULY 2007

Transformation: Changing Ahead Of the Curve

Many companies wait too long to attempt transformations, doing so only when the signs of trouble have become obvious. But that's almost inevitably too late. High performers, by contrast, change before they must, knowing that the best way to transform is from a position of strength

GlobalStrategy
Tim Breene
Tim Breene
Paul Nunes
Paul Nunes
Walter Shill
Walter Shill

Originally published in Outlook Journal, January 2007

Many companies wait too long to attempt transformations, doing so only when the signs of trouble have become obvious. But that's almost inevitably too late. High performers, by contrast, change before they must, knowing that the best way to transform is from a position of strength.

In 2002, Fujio Cho, then president of Toyota Motor Corporation, kicked off a transformational program called Global Vision 2010. On one level, it was a surprising move. At the time, Toyota was not only Japan's No. 1 carmaker; it was the third largest manufacturer of automobiles in the world and the top-selling foreign brand in the United States, with the most envied balance sheet in the industry.

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