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Is the network in danger of sacrificing its soul in order to distance itself from its outdated business practices?
JWT's recapture this week of the global Smirnoff business from Bartle Bogle Hegarty will be a much-needed morale booster during what has been a reinvention programme of mixed fortunes.
Eighteen months ago, the group ditched its J. Walter Thompson moniker, along with all its historic associations, to put itself through the pain barrier.
Today, the big question is not so much about whether the gain is starting to outweigh the pain, but whether JWT is in danger of sacrificing its soul without any clear or enduring advantages.
JWT's apologists maintain it had little choice but to undergo a catharsis. The agency that gave Britain advertising icons such as the Oxo family and Maureen Lipman's Beattie had become old-fashioned and out of touch with an evolving media world. It could only look on in dismay at the success of younger and hungrier creative hotshops. It either had to adapt or face the consequences of its inertia.
'There has been a false grandeur about JWT's stature for too long,' one of its former executives comments. 'It has to become sharper, faster on its feet, leaner and acquire an effective new-media capability.'
The new strategy