When I was recently in the US I came across an article in the Wall Street Journal entitled, “McDonald’s Knows it’s Losing the Burger Battle – Can it Come Back”. In it the chief executive suggests, “the company is trying new things and rethinking legacy beliefs.”
All companies will eventually face the McDonald’s problem. I’m not referring to the gut-wrenching outcome of fast and cheap food. Rather, coming to grips with the possibility that the thinking that has defined our actions for years may no longer apply.
We all like patterns and routines in our lives, and when conditions change to render those patterns and routines as outdated, we’re in trouble. Our legacy beliefs gave rise to our present day situation. They propelled us nicely along on our journey thus far, but now, we find ourselves pulling over to the side of the road watching the world go by and wondering what happened.
For many businesses, the legacy beliefs that gave rise to the approach that define today’s strategy are the seeds of a company’s demise. It’s difficult for businesses to let go much less change. Not impossible, but it takes courage to effectively change those legacy beliefs and move forward.
For us as individuals, the process of throwing away the ruling assumptions of our life is every bit as gut wrenching as one of those meals referenced above. It takes courage to look in the mirror and admit that what worked for us no longer applies. Every working professional will face, has faced or is facing this issue in our world of change.
Some people and some companies do navigate the transition. The high growth leaders I’ve worked with who have or are succeeding in challenging their own and their organisation’s legacy beliefs act with courage and focus for the excitement of learning, discovery, and challenge.
