Ebay has reinvented itself and bounced back from its nadir. Its stock had dropped 80% from its high. Now, it has soared again, reaching a six-year high. The CEO of eBay said the leadership team’s focus on making mobile payments easy is a major reason for the company’s success.
But, what we find so interesting is the implied culture and communication that was needed to make this successful pivot happen. John Donahoe, CEO of eBay, told The New York Times what his leadership team was facing as they looked to make change at eBay:
“It was clear the world had innovated around eBay and eBay had stayed with the same formula. Saying that was considered heresy. With any company that’s been this successful, there’s enormous momentum to keep doing what you’ve been doing and hope the world will go back to what it used to be.”
This is the classic, “Who Moved My Cheese?” moment. Freezing is a real option taken by so many companies and executives afraid of change or facing a culture resistant to it. The “Hail Mary Pass” often happens. (We’ll keep doing what we’ve always been doing and pray things will change to our benefit). Meanwhile, technology, competition and new ideas move forward and grab market share.
Are you facing such a moment? How are you deciding your next move? Are you operating from strength, willing to take risks to win? Or, are you protecting what exists now? Are you having the conversations you need to sense change and make wise decisions? Do you have a communication strategy in place to solicit ideas and keep your team informed?
Check out these leadership training videos on change and communication:
- Effective business communication skills video library - short video clips to show and train team members how to increase their influence, and benefit from change.
- Leadership Change Management Video ELearning course - real-world leaders on effective decision-making. Videos also available for streaming.