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Having not made a profit for years, and after losing their no. 1 position in terms of sales in 2008 (due to Toyota's steady profitable growth), GM has now had to file for bankruptcy protection (despite recent Government bailouts) ...
... and acknowledged the biggest debt in US history ($173bn)! Many will take the opportunity to put this down to the Credit Crunch, but they have been verging on bankruptcy for years ... they were built on a out-dated management practices and the application of Poweromics ... Toyota on the other hand have been applying Leanomics and, having listened carefully to leaders like Dr. W. Edwards Deming (a remarkable & insightful American 'leader'), are benefiting greatly as a result ... GM tried desperately to apply 'lean' principles, but they focused more on trying to apply 'tools' than understanding and adopting its 'values', 'philosophy' & 'management practices' ... as chapter 6 of my book highlights ...
Whilst massive, this news will pale into insignificance as nations start to go bankrupt too ... it's not just enterprises that need to think differently and do things differently ... nations will have to too ... as nothing else will do, because nothing else will work ...
If only ignorance was bliss ... ! No-one, no enterprise and no nation is immune and lots of people will suffer from inaction (or the wrong actions) now ... and unless 'leaders' ('new leaders') start to 'lead' quickly & effectively, and apply Leanomics & 21st century management practices now ... the outcomes are entirely predictable !
Let's see who takes the 'lead' ...
