Transformation at Work – Part II, Conviction

This is the second of three posts citing real-life examples of transformation at work. This one features conviction as a key ingredient in driving transformation. The first transformation-at-work post was about courage.
Conviction. We defined conviction as “staying true to the mission and not softening the edges.” Conviction is staying the course even when popular opinion strives to shoot it down. Being in the early phases of a new idea is a difficult place to be. It can be very lonely.
When PTC, the CAD software company, was rapidly losing revenue from its founding business model beginning in 2000, the company needed to reinvent itself or suffer further consequences. It embarked on a broader, bolder enterprise-centric strategy to become leader of the emerging PLM space. To do so, PTC not only needed to create new and better products, it needed to provide the intellectual capital to own the enviable (and available) thought leadership position. [For more on the strategic challenge, see Noise.]
PTC created and packaged that intellectual property in the form of a Value Roadmap which plotted the ways to create and capture value in product development. Its impact touched every department inside of PTC as well as the entire industry. The mantra inside of PTC was “if you’re not on the roadmap, you’re off strategy.” It was a difficult strategic shift to make, but the conviction of the entire executive leadership team to stay the course set the new PTC in motion. The company has been on a steady climb ever since those challenging early days of change in 2001 – 2003.
Have you seen conviction at work in driving transformation?
What did it look like for you?

One Comment

  1. Tom Butta says:

    The conviction to stay the course and redefine the company worked for PTC. Today, it is ready again to accelerate through opportunity, but this time from a very solid position. The question is: Will PTC be as bold and powerful as when its back was to the wall?

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