Evolving the Enterprise for a New Era. Target CEO Michael Fiddelke started at the company as an intern. Twenty years later, as he prepared to assume the top role, he spoke to HBR Executive about a common challenge: preserving what makes an organization successful while adapting it for what's next. Here are his lessons for balancing stability and reinvention.
Target CEO Michael Fiddelke started at the company as an intern. Twenty years later, as he prepared to assume the top role, he spoke to HBR Executive about a common challenge: preserving what makes an organization successful while adapting it for what’s next. Here are his lessons for balancing stability and reinvention.
Know what makes you successful. Before pursuing change, identify the strengths that differentiate your organization. Reinvention works best when it’s anchored in a clear understanding of what your company does exceptionally well.
Be candid about what isn’t working. Respecting a legacy doesn’t mean defending every past decision. Acknowledge where performance has fallen short and where change is needed. Clarity creates urgency.
Reduce complexity as you grow. Success often creates layers of processes, priorities, and responsibilities. Simplify work, eliminate friction, and make it easier for people to execute consistently.
Listen to the people closest to the work. Employees often have the clearest view of what’s slowing the organization down. Ask questions, seek input, and use their insights to guide change efforts.
Focus on a few priorities. Reinvention doesn’t require doing everything at once. Define the outcomes that matter most and align decisions, resources, and communication around them.
