July 9, 2006

Reinvention Can Turnaround a Company

There's a great article about the resurgence of Texas Instruments in today's New York Times Business Section. It's by Damon Darlin and its called: Cashing in It's Chips. The reason I'm linking this piece is that I think its a great story of what business reinvention can do to turnaround a established company.

For example here's a quote:

"How did Texas Instruments, which posted revenue of $13.4 billion last year, arrive at the enviable position of considering itself primed and ready to assume Intel's mantle as standard-bearer for the entire chip industry?...it pulled off its own resuscitation — a decade-long effort — by abandoning ill-fitting product lines, focusing more closely on its core integrated circuits business and linking up with large but underestimated companies eager to champion new uses for its chips."

But this quote says describes TI's reinvention strategy best: "Mr. Templeton (TI's CEO) said Texas Instruments had outflanked Intel by acting as a design lab that could help realize any customer's ambitions."

What's the bottom line for all companies? Focus on the customer, do your homework so you're betting on the right emerging technologies.

Click here to read the entire article.

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