A healthcare VP told me the other day when you hear someone bring up the word "opportunity," keep your hand and head down. The company will never invest in it to scale - and the people who move to the exciting new high growth opportunity are the first to be cut in three years. There is appetite for the risk to place a big bet on growth. The only way 3M manages margins now is to cut costs and that will run out of runway soon.
3 replies (most recent on top)
Yes, the success of the spinoff depends on whether an external CEO is appointed. My biggest concern is that they can't find someone externally, and give it to the incumbent. The only hope for the spin off is that they are able to distance themselves from the non-strategy and lack of vision that is happening in the main company.
See what have we done to our acquisitions and spinoffs. Dont go for glossy talk. New or old its the same mindset ..on leadership style.
Shiva is right on the money.
History is littered with 'exciting new opportunities' that 3M completely failed to either understand or properly invest in.
Nobody in leadership at 3M is conditioned to actually build up a business. They are all deeply conditioned to tear businesses down.