Gareth Davies of Leagas Delaney highlights the apathy surrounding recent corporate results in the advertising industry, noting that much of it comes from an underlying awareness of the need for systemic change. Despite the resilience of agency leaders in addressing immediate challenges, deeper issues remain unaddressed. The pace of change, influenced by mergers and consolidations, is accelerating, but this transition is not guaranteed to favor independent agencies. Agency leaders must recognize the urgency of transformational change before it becomes unavoidable, rather than settling for complacency in the midst of apparent chaos.
"The real issue is not how we deal with these events when they occur. We are, after all, a resilient bunch of firefighters. But we're less good at tackling the deeper systemic issues."
"As Jack Welch, the former CEO of GE, memorably advised, 'Change before you have to.' We shrug our shoulders at corporate results because we all know that we're late to the structural change that we now have to make."
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