As FY 2014 gets relegated to history, our industry has witnessed some surprising changes associated with mergers, acquisitions and personnel changes – along with the introduction of Provectus Environmental Products, Inc. and our truly new technology offerings. A critical review of personal events that occurred over the preceding 12 months offered me valued lessons learned. If you are interested to share in these perspectives… read more.
A major event in my professional career took place on April 15, 2014 when I resigned employment after my company heritage and long-term career interests were sold to a large, external investment entity. We all understand the reasoning for – and potential benefits of – corporate mergers. And many of us have lived through several such events over the course of our professional careers: some quite recently. In having done so, we also know the sobering statistics of ca. 70 to 90% failure rate, especially when integration of personnel and philosophies is mismanaged (https://hbr.org/2011/03/the-big-idea-the-new-ma-playbook).
Can you recall Snapple? That product played a large part in changing the multi-billion dollar beverage industry and once dominated the market. But it now places well behind other products, arguably because Quaker understood distribution but they did not understand the people, the brand, or its culture. Surprisingly, they lost much of their $1.7 billion in branding value http://brandfailures.blogspot.com/2006/11/brand-culture-failures-quaker-oats.html.
Corporate size and wealth are useless assets when a company is led by people who do not value their human resources or truly understand the business in which they operate. Nick Summers wrote an excellent article in Forbes Magazine (May 22, 2014) that summarizes this perspective with precision (http://www.businessweek.com/articles/2014-05-22/ibms-eps-target-unhelpful-amid-cloud-computing-challenges). It is a well-written story of how a large, global, established company with over 100 years of operational experience floundered and lost its corporate identity due to what I concluded was poor management practices. They were large and arrogant; pretending to be superior to their counterparts. They failed to value their client base; failed to motivate their personnel assets. And in their failures, they encouraged new competitors with vision, drive and freedom to innovate and develop new, improved technologies that changed their industry point forward.
As we enter CY 2015, Provectus has set a solid scientific foundation in its sciences. From here, you will see how we rapidly expand our operations internationally and integrate industry leaders as new staff and partners. We will be issuing documentaries from established peers, colleagues and clients who have come to recognize the technical attributes of our offerings. We will do this while respecting you, our clients, and providing the service to match the caliber of our technologies.
Thank you very much for your confidence in us, and your business. Merry Christmas and Happy New Year.