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Advantage Driven Alignment

Sustaining Competitive Advantage Utilizing

Corporate Culture and Leadership

TGIM Group Inc. March 2002 2

An Introduction to Advantage Driven Alignment

Advantage Driven Alignment (ADA) is a vehicle through which organizations can maximize their sustainable competitive advantage (SCA). ADA’s foundation is the commonly applied acumen regarding competitive advantage. This traditional business approach is then integrated with TGIM Group’s innovations in organizational culture and leadership. Through the alignment of the organization’s present competitive advantage (CA), first with its organizational culture, and second with its leadership, a company will significantly increase the likelihood of sustained success. Introduction When Warren Buffett was asked what the one most important feature he looks for in evaluating a company, his immediate reply was “Sustainable competitive advantage.” i What role do the leaders of your organization play in determining this most coveted success. What are the relevant factors in the leader’s profile which impact this role? Anyone who offers a “one size fits all” description of the successful leader is ignoring the lessons of history and avoiding the challenges of tomorrow. Successful business leaders share only one quality: they succeed in business. Some very successful business leaders are very unpleasant people to work for; “survival of the fittest” , egocentric, brutally competitive, demanding types who hold onto power, information, and control. They may be inadequate spouses and poor friends, but they know how to build business, motivate and utilize their “human resources” to the maximum, and stay on the winning side of competitive advantage for a long, long time. They have found their niche in a “dog eat dog” world and their stomachs are full. Andrew Carnegie (1835-1919), the founder of Carnegie Steel, was such a man. Carnegie Steel dominated the North American steel market for decades until its founder sold the business (to J.P. Morgan who started United States Steel) and retired. Interestingly, in retirement Carnegie spent another decade using his skills, influence and wealth being a broker of world peace. Whereas Carnegie was an enormous success in business, he was the wrong man to bring about peace. His efforts in this regard were fruitless. Some leaders are the opposite from Carnegie on almost every dimension but success. As was George Eastman (1854-1932), the founder of Eastman Kodak, who was Carnegie’s contemporary. He also knew how to build his business, motivate his people, and sustain Kodak’s competitive advantage for decades. Like Carnegie, Eastman was a force to be reckoned with to his competition. Yet within his company, he inspired loyalty and affection, gave away power and control, and shared profit from his own pocket. Never married, Eastman was a loyal friend to many. Carnegie and Eastman are as different from one another as a Pittsburgh steel factory is from America’s sweetheart, the Kodak “brownie” camera ii. And this is no coincidence; it is a fact which is fundamental to TGIM Group’s Advantage Driven Alignment . ADA harnesses the power of these leadership differences by prioritizing the needs of the company above the personality of the leader. Remembering Warren Buffett’s words, “sustainable competitive advantage” (SCA) is the number one priority of every company, and is the best way to measure the real value of any organization. It is against this standard that the contribution of each leader, personal qualities aside, will be judged. Consider the leader(s) to be one third of a winning combination towards SCA. The other components? First, the organization’s present competitive advantage ; CA is what business leaders commonly consider to be the only factor relevant to their company’s success.


Your Competitive Advantage Competitive Advantage is measured in a number of key arenas of business. No organization maximizes it’s CA in every arena. The important matter is knowing and growing the competitive advantage of your business. Your CA is the degree to which you: Utilize knowledge about your product iii Know each product’s current cost/price/volume variables. Use this knowledge to innovate, decrease, or increase the profile of each product to maximize its

contribution to overall company profit. Know each product’s return on invested capital and the weighted average cost of capital. Use this knowledge to guide your future investment of capital in the right product within your

company. Utilize knowledge about your competition Know your current and potential competitors in your current market. Know your competitors’ product quality/cost/price/volume variables. Know your current share of your market. Know what your competition is doing to maintain or grow their market share. Use this knowledge to develop the appropriate combination of competitiveness and collaboration in

your relationships with competitors. Use this knowledge to design a plan to maintain or grow your market share. Implement this plan successfully, beating your competitors in this same effort.

Utilize knowledge about your customers Know your customers’ current expectations for your product’s quality and pricing. Use this knowledge to meet or exceed these expectations in providing this product. Accurately predict the customer trends which impact your future. Use these predictions to develop and market your product. Know your customer’s expectations regarding their relationship with your company. Use this knowledge to meet these expectations for relationship while valuing your resources. Beat your competitors in this same effort.

Utilize knowledge about your suppliers Know your current and potential suppliers as well as you know your customers and your competition. Know your suppliers’ relationship with your competition; their other current or potential customers. Know your suppliers’ view of your company. Use this knowledge to develop the appropriate combination of stability and flexibility in your

relationship with your suppliers. Beat your competitors in this same effort.

Utilize knowledge about your employees Know how your employees can accomplish your goals with your customer, competition, and

suppliers. Use this knowledge to design and implement “operational effectiveness” iv. Know what motivates and assists them to accomplish these goals. Use this knowledge to develop systems and procedures to motivate and assist your employees. Beat your competitors in this same effort.


Competitive Advantage: Viva La Difference!

The contrast between Carnegie Steel and Eastman Kodak (during the leadership years of their founders) demonstrates an important maxim regarding competitive advantage The primary cornerstone of Eastman Kodak’s competitive advantage was in “utilizing knowledge about your customer” by predicting and then creating a market for the Kodak “brownie”; a product which was not even imagined by the consumer before Eastman introduced it. Kodak’s still famous slogan “You push the button, we do the rest.” was not simply excellent wordsmithing. Kodak marketed a technological miracle which truly delivered on the promise. Having established a market, Eastman Kodak maintained its competitive advantage by “utilizing knowledge about its product” based on continuous research and development. Eastman Kodak’s competitive advantage was also found in “utilizing knowledge about your employees”. It needed to attract first-class talent who had a passion and capacity for groundbreaking innovation in technology and market-making. Once attracted, the company needed to find a way to establish and maintain the loyalty and motivation of this talent. Eastman Kodak excelled in doing so. The challenge for Carnegie Steel was very different: “The market was there: the railroads. The product was there: steel. What was needed was an economic method for product to meet market.” v The cornerstone of Carnegie Steel’s competitive advantage was in “utilizing knowledge about your product” focused on producing steel in a volume previously unheard of, at a cost previously impossible. This advantage was leveraged to the maximum by doing it sooner and at greater scale than any competitor. Carnegie said it this way: “To make ten tons of steel would cost many times as much as to make one hundred tons … Thus the larger the scale of operation the cheaper the product.” vi Another competitive advantage Carnegie Steel developed was found through “utilizing knowledge about your supplier”. Without a steady and predictable supply of iron ore, limestone, and coke, Carnegie Steel could never have produced such large quantities. Of these three essential supplies, coke was the only potential problem. Carnegie’s answer to this vulnerability was to form a partnership with Henry Frick. Frick has been described as a “brilliant, brutal, unreconstructed capitalist” vii This win/win alliance with The H.C. Frick Coke Company provided the final touches to Carnegie Steel’s winning formula. It was untouchable for two decades. Competitive advantage is created by the ability to utilize knowledge about your product, competition, customers, suppliers, and/or employees, towards securing or improving your market share and your return on invested capital. Eastman and Carnegie were similarly successful in doing this. However the details of each company’s success are found in their very different competitive advantages. Discovering and leveraging your company’s unique profile is the first (very important) step towards Warren Buffett’s coveted prize of “sustainable competitive advantage”.

Operational effectiveness is not enough In North America’s fiercely competitive economy, the “competitive advantage period” is becoming increasingly short. That is, any edge your company has today will be challenged by tomorrow’s new technologies, customer preferences, and ways of doing business. Excellent operational effectiveness (defined as “performing similar activities better than rivals perform them” viii ) through knowing your product, competition, customers, and suppliers is not enough. Identifying your CA is Part One, and the reference point, in Advantage Driven Alignment . (See Appendix One for a complete description of ADA.) ADA involves strategic positioning (defined as performing different activities from rivals or performing similar activities in different ways. ix ) TGIM Group invites you to take the next step.


Your Organizational Culture Your company’s CA and your company’s leadership are two thirds of the winning combination towards sustainable performance. However your leadership alone cannot sustain your CA. Your organizational culture stands between your leader and your company’s competitive advantage. Cultivating organizational culture is a primary venue through which the leader impacts CA. Much has been said about organizational culture in the last two decades. Many organizations are spending enormous time and resources attempting to build a culture which will give them a competitive advantage. The premise of this attempt is simple:

An excellent culture is a competitive advantage. TGIM Group holds that the premise is wrong. We see it as a dangerous example of the tail wagging the dog. The pursuit of excellent culture too easily becomes separated from business realities facing the organization. The outcome is often the same: After spending much money and many hours of collective energy involving everyone from the Board of Directors to the most junior secretary the Lamborghini of Cultures is designed.

The Lamborghini of Cultures From now on, there will be immediate and open communication throughout the organization. Our organization will be a safe and supportive workplace. We will share decision making. Our leaders will share power. We will create a high level of ownership amongst all employees. We will be an innovative, and invigorating community, welcoming different perspectives. And we will always be changing in pursuit of excellence.

Sounds good. Is it achievable? Yes. Is it sustainable? Maybe. More importantly, is it desirable? TGIM Group says “That depends.” Organizational Culture is a means to an end. Culture is a tool through which competitive advantage is achieved . Apart from this value as a tool, culture is without purpose for a business. Culture is “the way in which work is done”. If “the way in which work is done” is without purpose, no business can survive, yet alone thrive. Hence it is essential that your organization’s culture be aligned with your CA. This is the second step in Advantage Driven Alignment . For many organizations, the Lamborghini of Cultures may be going in exactly the wrong direction, albeit very quickly. In fact, the competitive advantage of some businesses would be served far better by The Dump Truck of Cultures

The Dump Truck of Cultures.

From now on, communication will be on an “as needed” basis, the “need” being decided by the boss, who will not take a vote. If you’re feeling stressed, “If you can’t stand the heat get out of the kitchen”. If the boss shared the power, there would be no boss. You want a sense of ownership? Buy shares!. If it “ain’t broke, don’t fix it.” We have better things to do with our time. And, right or wrong, the boss is right.

Like it or not, we can all think of businesses which have sustained success utilizing The Dump Truck of Cultures. TGIM Group’s Advantage Driven Alignment . harnesses this fact by prioritizing the needs of the company above the personal preferences of the leaders. The Key Question is: What culture best serves your competitive advantage? And secondly: What role does the leader play in cultivating this culture? Culture is a tool to enhance Competitive Advantage. And leaders are a tool to build corporate culture. (See Appendix Two)


Forget about “political correctness”. Forget about the “pursuit of excellence” for the sake of excellence. x

However, do not ignore your organizational culture. Rather, use it as the best tool your company has.

Don’t cut the tail off the dog. Just make sure the dog (your CA) is wagging it, not vice versa!

Accounting For Culture: The Big Five

TGIM Group defines the “way in which work is done” in 5 general categories*

Order/Flexibility (OF) The degree to which your CA requires order & predictability vs. adaptability & flexibility

Demanding/Encouraging (DE)

The degree to which your CA requires an experience of performance demands and consequences verses an experience of performance support and reward.

Control/Participation (CP)

The degree to which your CA requires instruction & control by a few verses participation & ownership by many.

Standardize/Innovate (SI)

The degree to which your CA requires standardization & duplication verses innovation & originality.

Alone/Together (AT) The degree to which your CA requires solo process & actions vs. joint process & actions.

*Appendix Three lists the possible combinations of these 5 variables.

These five categories help define and shape the most effective way for your organization to maximize your CA. This is turn is defined by your responses to TGIM Group’s 17 Cultural Descriptors The specific ways in which work must be done in order to: 1. bring about organizational change 2. achieve clarity regarding roles and goals 3. maximize individual contribution 4. process and implement decisions 5. address ineffectiveness 6. develop talent 7. increase the sense of incentive and loyalty within the company 8. manage information to maximize the power of leadership. 9. inspire your employees 10. encourage the development of your company’s knowledge base 11. deal with the impact that stress has on performance 12. provide support to struggling employees 13. create a “whole greater than the sum of the parts” 14. build trust in leadership 15. maximize productivity 16. enhance timely efficiency 17. achieve excellence *Appendix Four demonstrates the integration of these specific cultural descriptors with The Big Five.


Corporate Culture: Viva La Difference!

The contrast between Carnegie Steel and Eastman Kodak (during Carnegie’s and Eastman’s tenures) demonstrates an important maxim regarding corporate culture. Remember that Carnegie Steel and Eastman Kodak these had very different competitive advantages. This is the starting point for an analysis of their corporate cultures. xi * Eastman Kodak’s CA was based on understanding and capitalizing on a “feel good” need in the general public . The Kodak “brownie”.was the ultimate “feel good” product of the early 20th century. It generated an excitement in the consumer, and a partnership with the consumer (“You push the button, we do the rest.”). Eastman Kodak maintained its competitive advantage through continuous research and development of it’s photographic product. And it maintained this R&D by attracting and keeping a talented and passionate production and marketing workforce As is common to successful companies, Eastman Kodak’s corporate culture was completely aligned with, and empowering of this competitive advantage. Using the 5 descriptors of culture, Eastman Kodak’s culture xii could be described as:

Flexibility: emphasizing adaptability & flexibility Encouraging: emphasizing relational safety and internal motivation.. (in the midst of a high stress

industry) Participation: with a hierarchy emphasizing “ownership” by many. Innovate: emphasizing innovation & originality (with standardization in production) Together: emphasizing joint process & actions.

Eastman Kodak was a leader in an inspiring, relational and innovative industry. It required an inspiring, relational, and innovative culture. That is exactly what George Eastman created. Carnegie Steel’s CA was found in mastering the low cost mass production of steel, capitalizing on the enormous demand of the growing railway industry, and forming strategic alliance with a supplier of coke. Again, this winning formula was supported by the right culture for the job. Using the 5 descriptors of culture, Carnegie Steel’s culture could be described as: Order: emphasizing order and predictability (although certainly adaptive to market realities) Demanding: emphasizing a stressful work environment (although Carnegie Steel itself was in a

strong position) Control: emphasizing instruction & control by a few (mostly by Carnegie himself) Standardize: emphasizing standardization, not individual creativity or innovation. Alone: emphasizing individuals doing their job. (although obviously production required joint effort)

Carnegie Steel was a leader in a hard and dirty industry. It required a hard and dirty culture. That is exactly what Andrew Carnegie created.

* Note: Although it is essential that “overall” corporate culture be aligned with “overall” CA, it is equally important that the specific CA of important units or divisions of an organization be recognized and hence have a distinct culture. This is especially true for businesses which both manufacture products and sell those products to the public directly. Hence, in many businesses there will be a dominant culture, and one or more “sub-cultures” which may be quite different from the dominant culture. The unifying element always remains: “Align culture with (overall and/or divisional) competitive advantage.”


Corporate Leaders: Viva La Difference!

As we have seen, competitive advantage differs from company to company, and from industry to industry. The organizational cultures which support the stories of success are also diverse. Hence, logically are the leaders of successful organizations. There is no perfect leader. But there are good matches and there are bad matches. First issue: What is the job? That is, what is the competitive advantage which your company must exploit to the fullest? Second issue: What culture must be behind the scene, supporting and pushing this advantage? Third issue: Is your leadership team the men and woman for this job: The job of creating this culture. George Eastman was the perfect man for his job. Although he claims that “I never smiled until I was 40” (2 years after he formed Eastman Kodak) Eastman knew how to make other people smile. He did not wait to become rich before becoming generous in giving his money away to worthy causes. And although he ultimately was very rich, the making money was not his dominant personal drive. There was something about the photographic industry that captured him. He loved to learn, and he created one of the first corporate examples of a “learning organization”. He fostered and maintained long-term business partnerships, even when the economics of the relationship was not in his best interests. And ultimately he wanted to create a company in which he himself was dispensable. In his own words, “There’s a lot of young blood in the Company and I am trying to organize it so people will say after I’m gone that the old man was not the whole thing after all. xiii Andrew Carnegie was also the perfect man for his job. Carnegie craved money and the power that money brings. If Carnegie Steel was anything, it was a money machine. He was known for his shrewdness, capacity to analyze business opportunity, and his ability to manipulate people. Exceptionally demanding on his own executive team whom he fired without any qualm if displeased with performance. This habit went down the line of authority within the company. One of his ironmasters is quoted as saying ““I have always had one rule. When a workman sticks his head up, hit it.” xiv And in the world of steel making, this was the ticket to success. Importantly, both Eastman and Carnegie were fiercely competitive. We might expect this from Carnegie. But Eastman used industrial espionage, blocked his competition from accessing markets, and acquired no less than sixteen competing companies during his tenure. Eastman said it best, “In business it is war all the time.” xv The key difference then was how they motivated their army. The key to their success was: According to needs of the battle plan.


TGIM Group’s Contribution to your

Razor sharp understanding of your present competitive advantage.

Organizational culture that is highly relevant to sustaining your success.

Leaders who understand and perform their part in this winning formula.


Appendix One The Process of


After the initial presentation and negotiation, the following steps are involved in your ADA. ADA Preparation Goals: Provide key leadership with information regarding ADA. TGIM Group learns about previous organizational development efforts and results. TGIM Group gathers information to assist with Step One. Achieve key leadership buy-in. Design the format and decide on the key people to participate in the ADA.

Process: TGIM Group leads semi-structured interviews with your key people (small group and individual

meetings). TGIM Group provides tools to assist your key people’s preparation for Part One.

ADA Part One: Identify Your CA Goals: Summarize the competitive environment within which your business exists. Identification of your present overall competitive advantage. Identification of essential divisional competitive advantages. Examination of current purpose/vision statements (public and private) in light of your CA. Receive employee feedback to confirm CA identification. Achieve initial employee buy-in, as required.

Process: TGIM Group facilitates the Part One format, as previously designed. Commonly this involves a one

day retreat format for your key people. TGIM Group assists in the design, implementation and analysis of employee feedback TGIM Group assists key players in achieving employee buy-in.

ADA Part Two: Align Your Culture Goals: Identify the the “specific ways in which work is done” presently within your organization, using your

responses to TGIM Group’s 17 Cultural Descriptors Identify the “specific ways in which work must be done” within your organization to maximize your CA. Design the overall culture which most effectively aligns with your overall CA. Identify essential divisional cultures necessary for your key divisions. Receive employee feedback to confirm the specific ways in which work is presently done. Achieve employee buy-in, as required.

Process: TGIM Group facilitates the Part Two format, as previously designed. Commonly this involves a 2nd

one day retreat format for your key players. TGIM Group assists in the design and implementation of employee feedback and buy-in.


Appendix One continued ADA Part Three: Align Your Leadership Goals: Identify present leadership strengths and challenges. Receive employee feedback to confirm leadership strengths and challenges. Identify the leadership attributes and venues required to build and sustain your required culture. Design individual and team goals and steps for addressing leadership challenges.

Process: TGIM Group assists in the design, implementation and analysis of employee feedback. TGIM Group facilitates the Part Three format, as previously designed. Commonly this involves a 3rd

one day retreat format for your key players, followed up with individual coaching to key leadership elements within the company.

ADA Part Four: Organizational Roll-out Goals: Compose a comprehensive review of the venues throughout the organization where TGIM Group’s

17 Cultural Descriptors occur. Identify required changes in the “specific ways in which work is done” in each venue throughout the

organization. Design implementation and follow-up methodologies and schedules. Achieve buy-in from employees regarding required changes, as required. Complete implementation stage. Complete Initial follow-up to identify and address sustainability challenges.

Process: TGIM Group’s services during the roll-out stage are contracted according the specific needs of your

organization. At a minimum, TGIM Group can provide tools and training for each step of the roll-out. It may be appropriate to contract for our ongoing involvement. Our involvement in the initial followup is highly recommended.


Appendix Two

Competitive Advantage

Culture Leadership

CA informs Culture Culture impacts CA

Culture informs Leader Leader impacts Culture


Appendix Three

32 Workplace Cultures: Finding The Fit Order Demanding Control Standardize Alone or or or or or Flexibility Encouraging Participation Innovate Together Your CA requires Order, while Demanding Performance 1. Order Demanding Control Standardize Alone 2. Order Demanding Control Standardize Together 3. Order Demanding Control Innovate Alone 4. Order Demanding Control Innovate Together 5. Order Demanding Participation Standardize Alone 6. Order Demanding Participation Control Together 7. Order Demanding Participation Innovate Alone 8. Order Demanding Participation Innovate Together Your CA requires Order, while Encouraging Performance 9. Order Encouraging Control Standardize Alone 10. Order Encouraging Control Standardize Together 11. Order Encouraging Control Innovate Alone 12. Order Encouraging Control Innovate Together 13. Order Encouraging Participation Standardize Alone 14. Order Encouraging Participation Standardize Together 15. Order Encouraging Participation Innovate Alone 16. Order Encouraging Participation Innovate Together Continued next page


Appendix Three continued

32 Workplace Cultures: Finding The Fit Order Demanding Control Standardize Alone or or or or or Flexibility Encouraging Participation Innovate Together Your CA requires Flexibility, while Demanding Performance 17. Flexibility Demanding Control Standardize Alone 18. Flexibility Demanding Control Standardize Together 19. Flexibility Demanding Control Innovate Alone 20. Flexibility Demanding Control Innovate Together 21. Flexibility Demanding Participation Standardize Alone 22. Flexibility Demanding Participation Standardize Together 23. Flexibility Demanding Participation Innovate Alone 24. Flexibility Demanding Participation Innovate Together Your CA requires Flexibility, while Encouraging Performance 25. Flexibility Encouraging Control Standardize Alone 26. Flexibility Encouraging Control Standardize Together 27. Flexibility Encouraging Control Innovate Alone 28. Flexibility Encouraging Control Innovate Together 29. Flexibility Encouraging Participation Standardize Alone 30. Flexibility Encouraging Participation Standardize Together 31. Flexibility Encouraging Participation Innovate Alone 32. Flexibility Encouraging Participation Innovate Together


Appendix Four: Integration of the Big Five with the 17 Cultural Descriptors. TGIM Group defines culture, the “way in which work is done”, in 5 general categories: The Big Five are: Order/Flexibility (OF); Demanding/Encouraging (DE); Control /Participation (CP); Standardize/Innovate (SI); and Alone/Together (AT). These five categories help define and shape the many more specific ways in which work is done. This in turn is guided your response to TGIM Group’s 17 Cultural Descriptors, which define how to: 1. bring about organizational change 2. achieve clarity regarding roles and goals 3. maximize individual contribution 4. process and implement decisions 5. discipline ineffectiveness 6. empower talent 7. increase the sense of incentive and loyalty within the company 8. manage information to maximize the power of leadership. 9. inspire your employees 10. encourage the development of your company’s knowledge base 11. deal with the impact that stress has on performance 12. provide support to struggling employees 13. create a “whole greater than the sum of the parts” 14. build trust in leadership 15. maximize productivity 16. enhance timely efficiency 17. achieve excellence

The Big Five Cultural Descriptors O/F D/E C/P S/I A/T 1. Change O F 2. Roles & Rules C P 3. Contribution O F S I 4. Decisions C P A T 5. Discipline D E 6. Empowerment O F C P S I 7. Incentive A T 8. Information & Power C P A T 9. Inspiration C P S I 10.Learning O F D E 11.Stress D E 12.Support O F C P 13.Synergy O F C P S I 14.Trust C P A T 15.Productivity D E A T 16.Efficiency O F S I 17.Excellence D E Our competitive advantage requires order / flexibility while demanding / encouraging performance through the control / participation of our people, the standardization / innovation of our product, while we work alone / together .


i Whitney Tilson, “Sustainable Competitive Advantage”, www.Fool.com, February 28, 2000 ii The “brownie” was Kodak’s very “user-friendly” camera, introduced in 1900 at a price of $1. Kodak’s slogan, “You push the button, we do the rest” captured the imagination of millions of Americans for decades. iii The term “product” is used to describe all services and products which form your company’s offering to your customers. iv “Operational effectiveness” is defined by Michael Porter (“What is strategy?”, Harvard Business Review, Nov.-Dec, 1996) as “performing similar activities better than rivals perform them” v Richard Tedlow, Giants of Enterprise, HarperBusiness, 2001, page 54 vi Richard Tedlow, Giants of Enterprise, HarperBusiness, 2001, page 58 vii Richard Tedlow, Giants of Enterprise, HarperBusiness, 2001, page 54 viii Michael Porter, “What is strategy?”, Harvard Business Review, Nov.-Dec, 1996 ix Michael Porter, “What is strategy?”, Harvard Business Review, Nov.-Dec, 1996 x Tom Peters himself, author of In Search of Excellence (1982) which created enormous mystique around exemplary companies and larger-than-life CEO, has acknowledged that he relied more on instinct than research in his criterion for corporate success. (The Globe and Mail, March 25, 2002, page B4) xi Although it is essential that “overall” corporate culture be aligned with “overall” CA, it is equally important that the specific CA of important units or divisions of an organization be recognized and hence have a distinct culture. This is especially true for businesses which both manufacture products and sell those products to the public directly. xii Richard Tedlow , in Giants of Enterprise, (HarperBusiness, 2001) described Eastman Kodak as “a learning organization characterized by continuous improvement.” (Page 103); “an equal opportunity employer” (p110); with a “succession plan with a seemless flow” (p112); with profit sharing distributed to almost 3000 employees. (P112); with a broad and diverse “ management team of 9 reporting to Eastman (p113). xiii Richard Tedlow, Giants of Enterprise, HarperBusiness, 2001, page 114 xiv Richard Tedlow, Giants of Enterprise, HarperBusiness, 2001, page 112 xv Richard Tedlow, Giants of Enterprise, HarperBusiness, 2001, page 93

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