It has moved from being the butt of late-night jokes to becoming a favorite of the stock pickers on CNBC. Today, Domino’s is the second-largest pizza chain in the world, with more than 12,500 locations in more than 80 countries, and a share price approaching $160. Doyle became CEO in 2010, after some troubled years, when the company’s growth was slow and its stock price was stuck, a lame $8.76 per share. The scale of the changes at Domino’s are remarkable. Doyle’s talk was titled, “How to Transform a Legacy Company into a Technology-Enabled, Nimble, Category-Disrupting Machine” - and it delivered. I wasn’t sure what to expect, other than a riff on the company’s most popular toppings, but what I heard were riveting and compelling lessons about making radical, deep-seated change in a traditional, slow-to-change business. The event’s kickoff speaker was Patrick Doyle, CEO of Domino’s Pizza, which is headquartered in nearby Ann Arbor. Yet little did I know that some of the most extraordinary innovations I’ve seen would take place in the pizza business.Ī few weeks ago, I spent a day in Detroit as part of a CEO Summit organized by Business Leaders for Michigan, an association of the state’s biggest companies. Instead, you can rethink what it means to be in the retail-banking business, or the industrial-distribution business, or the office-cleaning business. You don’t have to be a programmer in Silicon Valley or a gene splicer in biotech to unleash exciting innovations and create huge value. I spent the last 18 months researching and writing a book on how organizations and leaders can do extraordinary things, even if they operate in pretty ordinary fields.
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