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Slide 2 History, Structure & Culture Established in 1977 in the United Kingdom Offered Order Fulfilment and Warehousing software Served a small group of small British publishers VISTA 4GL programming language Slide 3 History, Structure & Culture Customer develops solutions and functionality VISTA delivers new functionality to market without incurring expense of development 4GL gives VISTA early competitive edge and foothold in the industry Strong and lasting coalitions with customers. VISTA sells ownership of 4GL to customers Slide 4 History, Structure & Culture 1987 - VISTA expands operations to U.S. Reputation of being the worldwide expert in all things publishing, wielding significant influence on publishing trends. 1997 - 50% of all printed trade books on the planet touched by VISTA software 50% 1994 - VISTA is recognized as premier provider to international publishing industry Slide 5 History, Structure & Culture Publicly owned, traded on the London Stock Exchange (AIM) Decentralized organization with distinct reporting units. Single set of Policies & Procedures, separate operating hierarchies 1. US and UK Publishing Operations (Pub Ops) 2. Publishing Applications Group (Pub Apps) 3. International Business Development 4. Group Distributed workforce, 60% of technical staff telecommute. Slide 6 History, Structure & Culture Structure from inside is flat Leadership emerges from the ranks Cooperative, not competitive Geographic divide and 4GL influence culture 1.British Born 2.Male Dominated 3.Propriety 4.Gentleman-Like Behavior 5.Extreme Professionalism Promotion is rare, turnover is low Hand picked & hand groomed staff Mutual investment means loyalty goes both ways Palpable sense of loyalty and trust Slide 7 Change 20 years as the industry leader Unable to keep pace with technological advances Rapidly changing demands requires chronic change Continuous, vigilant surveillance of marketplace Growth begins to decline after 1998 By 2000 product line seriously outdated Slide 8 Change Steadily declining profit margin EXTERNAL INTERNAL Losing existing customers Low morale due to repeated failures to re-engineer Beleaguered by change Slide 9 Change Mergers, acquisitions & partnerships Scant communication Unspecific goal, vague strategy, vaguer plan Top-down decision & execution plan New corporate identity unclear VISTA acquires Ingenta and PCG and emerges as Publishing Technology Slide 10 Change 2008 spontaneous partners with young, competitor named Aptify Secured exclusive rights to use Aptify framework in publishing sector New framework light years ahead of VISTA technology Next generation of VISTA products developed on Aptify VISTA & Aptify compete, VISTA wins but Aptify is better Slide 11 Change Active resistance goes viral, adding stress to pre-existing geographical divide Resistance from key player Balance of power over future direction of the S/W is threatened Leadership attempted to eradicate resistance by eliminating resistor Different assessments of readiness of new S/W on world wide stage. Customer-focused U.S. vs. product focused U.K. Slide 12 Gradebook More frequent, better targeted communication Big risks Because we have a good culture...because of the employees...and despite management...well achieve success. Staff won't let it fail...as always, theyll do whatever it takes to make it a success. Sue Jones, Director of Implementations Better strategies for dealing with resistance procedural justice for resistors More inclusive, less top-down strategy for change management Strong culture key to success Slide 13 Final Analysis From this Slide 14 Final Analysis To this in just 3 years Slide 15 Final Analysis Leaders in change Leaders in innovation Slide 16 Final Analysis So, hows it going? Oh you know, same old Because we have a good culture...because of the employees...and despite management, well achieve success. Staff won't let it fail...as always theyll do whatever it takes to make it a success. Sue Jones