Growth Opportunities in a Consolidating Industry - Collision Repair
8 changes ppt
1. 8 Changes in the Auto Industry
Weston Vogel Cameron Owens Dylan Young
2. Kotter’s 8 Steps to Change
• Step 1 – Create Urgency
• Step 2 – Form a Powerful Coalition
• Step 3 – Create a Vision for Change
• Step 4 – Communicate the Vision
• Step 5 – Remove Obstacles
• Step 6 – Create Short-term Wins
• Step 7 – Build on the Change
• Step 8 – Anchor the Change
3. Step 1 - Create Urgency
• Government Bailout
• Worst year in GM history
• Overhaul of 75% of Management
4. Step 2 – Form a Powerful Coalition
• Spread new policy through entire company
• New management with need for change
ideology
• Reduced complexity
• Single-point accountability
5. Step 3 – Create a Vision for Change
• Looking to future instead of present
• Changes to product lines
• EN-V concept
6. Step 4 – Communicate the Vision
• Marketing campaign
• Show changes vs. competetion
• Get public talking
7. Step 5 – Remove Obstacles
• Slim down production
• Remove unnecessary clutter and jobs
8. Step 6 - Create Short-term Wins
• Finishing in the black
• Paying back the bailout loan
• Regaining public trust
9. Step 7 – Build on the Change
• Cannot settle for short term accomplishments
• Goal of returning what it once was
• Bringing the best and most advance product to
market
10. Step 8 – Anchor the Changes
• Keep new ideas in employee’s minds
• Hire only people who will help advance the
company
• Plan for when decision makers retire
11. Review
GM used these 8 steps to overhaul their
company
This allowed GM to restore themselves from
ruins to greatness
These 8 steps show any company can rebuild