Business survival belongs to those who remain 'relevant' - McQueen

NETSCAPE, HMV, Kodak, Borders and SAAB have something in common, apart from their demises. They all lost their vital battles for relevance, according to researcher and author, Michael McQueen.

 

Mr McQueen has today launched his new book, Winning the Battle for Relevance, in which he sets out to explain how organizations, individuals and brands can remain viable and relevant in an ever changing and rapidly evolving world.

In the past, this thrice best-selling author has worked with brands across the globe including Pepsi, Nokia and Tupperware, so his book is coming from sustained experience.

In 2010, Mr MacQueen embarked on an extensive study of over 500 brands and organisations worldwide, tracking their rise and fall (and occasional rise again). Drawing on this research, his book highlights how most businesses and entities have no idea they are becoming obsolete till it’s almost too late.

"This is due to the fact that most leaders only pay attention to audible pulse indicators such as profits and sales figures, while completely ignoring their organisation’s silent pulse, the measure of their relevance," Mr McQueen said.

In an effort to help leaders gauge what he calls "their silent pulse"  Mr McQueen's book features a model called The Relevance Curve which tracks the four phases every organisation or brand goes though in their journey from emergence to prominence, and then obsolescence.

“The key at any point is to determine where you are on the Relevance Curve,” Mr McQueen said. “This will determine the steps you need to take in order to avoid becoming obsolete in the future.”

Mr McQueen said no entity is immune to extinction.

“Simply because an organisation has been successful, dominant or powerful in the past, does not automatically mean it will remain so in the future,” he said.

Mr McQueen said a powerful example was the music industry which, at the end of 2012, had shrunk to almost half the size it was in 2000. As the digital age has obliterated the status quo, music manufacturers, product distributors and retail outlets have found themselves undermined and undercut, with many including British music retailer HMV going under as a result, he said.

"In early 2013, David Bowie released his latest single straight to iTunes, skipping the CD format altogether," Mr McQueen said. "As physical music products almost entirely disappear, analysts believe Bowie’s move is a sign of things to come.

Advertising specialist and and ABC television program, The Gruen Transfer panelist, Dan Gregory, offered a clear warning to all organizations, brands and leaders when he commented on Mr McQueen's analysis: “Ignore Michael’s book at your peril.”

In addition to highlighting businesses and organisations that have failed to remain relevant, Mr McQueen also investigates in the book how brands such as Lego, Volvo and IBM have re-invented themselves in the face of change and achieved enduring relevance as a result.

Drawing on such case studies Mr McQueen offers practical advice for any business, leader or organisation committed to staying ahead of the curve and competition. His book offers readers step-by-step recommendations on how to create a game plan on how to remain in the prominence side of the relevance curve.

Winning the Battle for Relevance is available in bookstores from today and retails for $22.95. 

www.MichaelMcQueen.net

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