I recently read (and read again) a book by Charles Duhigg that got me thinking about the power of a single idea that can transform an entire business. The book is called The Power of Habit.
Here is a summary of one story in the book that made clear to me, the opportunity to lead powerful change.
On a blustery October day in 1987, a herd of prominent Wall Street investors and stock analysts gathered in the ballroom of a posh Manhattan hotel. They were there to meet the new CEO of the Aluminum Company of America–Alcoa. It was a company that for nearly a century had made foil wraps for Hershey kisses, the metal in Coca-Cola cans and the bolts that hold satellites together. Many in the audience had invested millions in this company. But in the past year, investors had started grumbling. Alcoa’s management had made misstep after misstep trying to expand their markets and customer while competitors stole them away.
There was relief when the board announced a new CEO, but that relief, at least today, was about to be turned on its head. Appointed to the post of CEO was a former government bureaucrat named Paul O’Neill. A few minutes before noon, O’Neill took the stage. He was 51 years old, trim, and dressed in grey pinstripes and a red power tie. His hair was white and his posture military straight. He looked dignified, solid, confident. Like a chief executive. Then he opened his mouth…