Linamar Corp. of Guelph, Ont., is Canada's second-biggest autoparts maker and one of our biggest entrepreneurial success stories. Now under the leadership of Linda Hasenfratz, daughter of the company's founder, Frank Hasenfratz, the $5-billion-a-year company prides itself on retaining the spirit and agility of a small growth company.
In my latest column for the Financial Post, I explore two of the key tenets that guide Linamar in its journey. They address two strategic priorities that most businesses face:
1. How do you avoid waste and bloat as your company grows?
2. How do you plan for a future of continuous, unpredictable technology and business change?
In each case, Linamar's solutions are both aggressive and elegant in their simplicity:
1. Linamar has created a culture in which all employees are expected to come up with at least six ideas for improvement every year.
2. Linamar has instituted a 100-year planning process, which helps senior management identify the spots where its capabilities and new business opportunities best intersect.
How are these bold initiatives making a difference at Linamar? How might similar tactics change the future of your company? Click here to read my interview with Linda Hasenfratz.