“The graveyards,” General De Gaulle once ironically observed, “are full of indispensable men.” Maybe so, but the same may not be so easily said about organizations whose success did depend on irreplaceable managers and staff.
Take, for example, Apple. Under Steve Jobs it created the iPod, iPhone, App Store, and iPad — products and services that ranged from radical departures to entirely new concepts.
Under Tim Cook? What his Apple has introduced to the marketplace are copycat items: A streaming service, new smartphone models, hybrid tablet/laptop — fine products, I’m sure, but not particularly innovative.
And so far as its financial performance is concerned, Apple’s Return on Invested Capital has diminished dramatically under Cook, from an astronomical 443% under Steve Jobs to a “mere” — which is to say superior — 183%.
So, from the perspective of Apple’s board of directors, Jobs was irreplaceable. From the perspective of the digital marketplace, on the other hand, he was, well, irreplaceable.
The great and the irreplaceable
Of course, as most Jobs-related anecdotes go, this is statistics with a sample size of one. Instead, let’s look at the organization you lead. Depending on the business expert I’m listening to and the day of the week, I’m told three truths:
