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THE ACCELERATED PACE OF CHANGE IN THE MARKETPLACE: SURVIVING & THRIVING Jeff M. Fettig Chairman & CEO, Whirlpool Corporation
THE ACCELERATED PACE OF CHANGE IN THE MARKETPLACE: SURVIVING & THRIVING
Jeff M. FettigChairman & CEO,
Whirlpool Corporation
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WHIRLPOOL CORPORATION 103 YEARS YOUNG
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REINVENTING A COMPANY OVER A CENTURY
1911 - 1948 1948 - 1980 1980s 1990s
• Multi-Product• Whirlpool Brand• Distribution
• Multi-Brand• International
Expansion• Globalization
• Single Product• Single Customer• No Brand
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A DECADE OF CHANGE
2006 2014
Rate of change is increasing at an increasing rate.
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2014 … THE BEST IN 103 YEARS
Record Revenues
Record Earnings
Strong Global Position
Record Stock Price
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“WHAT KEEPS ME UP AT NIGHT”
SO…
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THIS…
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HOW MANY OF YOU HAVE A LANDLINE?
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RAPID CHANGES, FAST CYCLES
Apple redefines the experience
1983 1994 2007
Motorola breaksnew ground
Nokia and RIM change the game
| | |
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THE LIFETIME OF A LEADER IS DECREASING
2012 2013 2014
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TODAY: 6 BILLION CELL PHONE SUBSCRIBERS Over 100 countries have more active cell phones than their overall population.
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INDUSTRIES IMPACTED BY THE SMARTPHONE
PCs
Entertainment
Cameras
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HOW DOES THIS IMPACT US?
Technology Products Services
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WHAT ABOUT APPLIANCES??
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WHAT DO CONSUMERS WANT IN APPLIANCES?
2008SMART
2010DIGITAL
2012CONNECTIVITY
2014Internet of Things
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THE CONNECTED ‘I-WASHER’
Register your product
Use & Care guide
Remote control On/Off
Malfunction notification
Change settings/cycles
Smart Grid status
Auto replenish
Remote diagnostics
Is this valuable to our customers??
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… or IS THIS?
CAMPAIGN COMMERCIAL
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OUR VIEW?
BOTH
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LEADER IN THE APPLIANCE INDUSTRY
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LEADER IN THE APPLIANCE INDUSTRY
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THE LIFE CYCLE OF WASHERS IN 103 YEARS
50+ years
25 years 20 years4 years
1911 2011
22 Months from Idea to Shipping
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SHORTER CYCLES, FASTER CHANGES
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FROM: WHITE STAND MIXER TO: ICONIC PORTFOLIO
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NEW BUSINESS MODELS
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HOT/COLD/CARBONATED/STILL …. AT HOME BEVERAGES.
NEW BUSINESS MODELS
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NEW BUSINESS MODELS
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NEW BUSINESS MODELS
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SURVIVING & THRIVING … AND PROSPERING
1. Serve and createvalue for the Customer
2. Adapt…Change…Fast 3. Be the Best
Re-invent yourself. Obsolete yourself.
Least Cost
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FINAL THOUGHTS
Your world IS changing.
‘Change is good”…. is an attitude.
Build an organization that embraces/seeks change.
Be prepared to obsolete your product or service…because if you don’t, someone else will!!
Leadership… The Catalyst for Positive Change.
