Signs of the corporate death spiral #3 - Fifteen years between new products

Some death spirals are shockingly abrupt, (the 'Secret' app, Theranos), and some others are so slow, and play out over such a long time horizon, that at times it must seem like the organization really isn't in a death spiral after all.

But then something happens to reassure and remind everyone that indeed the organization is on the decline, just a little bit slower and a little harder to detect unless you're watching closely. Submitted for your consideration a recent announcement from the good folks at General Mills, a company you probably have not thought much about, if at all, in ages.

From the piece 'This is General Mills' first new cereal in more than 15 years'

General Mills the creator of iconic cereals like Cheerios, Lucky Charms, and Trix, is adding a new brand to its fleet. The cereal is called Tiny Toast, which the company describes as “tiny pieces of crunchy toast covered with even tinier pieces of delicious fruit.”

It’s available in two flavors, strawberry and blueberry, and it’s made with whole grains and flavored with real fruit and other natural ingredients. According to a press release obtained by Fortune, the cereal contains no artificial flavors or colors.

Though the food giant has consistently released new versions and flavors of its already-existing brands, this is the first all-new cereal that General Mills has launched in more than 15 years.

To be fair to the folks at General Mills it isn't as if they have not introduced any new variations of their products in 15 years. After all there are at least 14 different varieties of Cheerios, many of which have been launched more recently. So it's not like the General Mills folks have been doing nothing over the years and have been just sitting back, contentedly counting those great Lucky Charms profits.

General Mills is kind of in a rough spot for a few reasons. Cereal sales have been in decline for a decade or more, and folks that eat cereal tend to be loyal to one or two brands. So from General Mills perspective, it probably has not made a ton of sense to invest too much in new product development and market research in order to launch new brands of cereal into a declining market. 

But still, nothing truly new, (and the 15th variety of the Cheerio isn't really 'new'), in over 15 years is definitely a sign of the death spiral, even if it is a long, slow, and hard to notice decline.

What is the larger message that we can try to take from the General Mills situation?

Probably that if you are thinking about your career, and the kind of organization you want to be a part of, taking a close look at the pattern and cadence of new product/service development and innovation is an important consideration. 

Would you be happy sitting in a brainstorming session discussing what other fruit flavor you can sprinkle on top of a Cheerio? How about Pineapple Cheerios?

Or would you rather be a part of an organization and an industry that is constantly looking to create, to invent, and to re-invent?

Have a great week!