If you haven’t yet seen “The Lehman Trilogy,” you’re missing out on a theatrical rollercoaster that spans over 160 years of history, drama, and financial intrigue. This play, written by Stefano Massini and adapted by Ben Power, tells the epic tale of the Lehman Brothers, from their humble beginnings as Bavarian immigrants to the dramatic collapse of their financial empire in 2008. But beyond the gripping narrative and stellar performances, “The Lehman Trilogy” offers a treasure trove of lessons in marketing and change management—both the good and the not-so-good.
The Good: Marketing Brilliance
Storytelling at Its Finest: The play’s success is a testament to the power of storytelling. By weaving a compelling narrative that spans generations, “The Lehman Trilogy” captivates audiences and keeps them engaged from start to finish. This is a reminder that in marketing, a well-told story can be your most powerful tool.
Brand Evolution: The Lehman Brothers started as a small dry-goods store in Alabama before evolving into a financial powerhouse. This transformation highlights the importance of adaptability and rebranding in response to market changes. For businesses, it’s a lesson in staying relevant and continuously innovating.
Emotional Connection: The play humanises the Lehman Brothers, portraying them not just as businessmen but as individuals with dreams, fears, and flaws. This emotional connection makes the story relatable and memorable. In marketing, creating an emotional bond with your audience can turn customers into loyal advocates.
The Bad: Marketing Missteps
Overconfidence: The Lehman Brothers’ downfall was partly due to their overconfidence and risky financial practices. This serves as a cautionary tale for businesses about the dangers of overestimating one’s invincibility. In marketing, it’s crucial to stay grounded and avoid making promises you can’t keep.
Ignoring Red Flags: Throughout the play, there are moments when the Lehman Brothers ignore warning signs that their business model is unsustainable. This is a reminder that in both marketing and change management, it’s vital to pay attention to feedback and be willing to pivot when necessary.
The Good: Change Management Mastery
Adaptability: The Lehman Brothers’ ability to pivot from a dry-goods store to a cotton trading business and eventually to a financial institution showcases their adaptability. Successful change management requires the ability to recognise opportunities and adapt to new circumstances.
Leadership: The play highlights the importance of strong leadership in navigating change. The Lehman Brothers’ success was driven by their vision and ability to inspire others. Effective change management relies on leaders who can guide their teams through transitions with confidence and clarity.
The Bad: Change Management Pitfalls
Resistance to Change: Despite their initial adaptability, the Lehman Brothers eventually became resistant to change, clinging to outdated practices. This resistance contributed to their downfall. In change management, it’s essential to foster a culture that embraces innovation and continuous improvement.
Lack of Communication: The play also illustrates the consequences of poor communication. As the Lehman Brothers’ empire grew, communication breakdowns became more frequent, leading to misunderstandings and misaligned goals. Effective change management requires clear, consistent communication at all levels of the organisation.
Conclusion
“The Lehman Trilogy” is more than just a play; it’s a masterclass in the dos and don’ts of marketing and change management. By learning from the Lehman Brothers’ successes and failures, businesses can gain valuable insights into how to navigate their own journeys. So, whether you’re a seasoned marketer or a change management novice, there’s something in this epic tale for everyone. It’s on for the next day or two so grab tickets if you can.
