Author Description

Value innovation is imperative for companies. Managers and front-line employees need to innovate constantly to satisfy customer needs at a desirable cost level. The resulting new value propositions create sustainable, profitable growth. Companies need to improve their management of growth. Few managers are satisfied with their companies. abilities to manage the drivers of long-term profitable growth. The leaner and meaner stance adopted by many companies has, it seems, proved counterproductive. Building an innovative company means orchestrating a complex mix of activities. A web of related activities, including product development and customer service, must be integrated into the innovation process and managed effectively to deliver sustainable growth. Fast and clearly articulated responses are crucial. Speed and flexibility are determined by a company's ability to disperse decision-making, practical knowledge and accountability to the lowest level within the organisation. The power of information technology has not been fully harnessed. IT is often left out of the strategic growth equation. Yet businesses truly focused on delivering customer value place it right at the centre, used for everything from facilitating organisational learning to leveraging customer information. Innovation is not cost-free. The need to deliver superior value to customers must be juggled with the competing requirement for efficient cost control if the ultimate corporate objective of creating maximum shareholder value is to be realised. Organic growth will play a vital role in corporate expansion plans. Over half the executives surveyed for the report are pursuing an organic growth strategy. This is particularly true for knowledge-rich industries such as consumer products and the media. Innoovation-led companies profiled in the paper: Dow Chemical, Ericsson, DSM, Bruncor, Hughes, Xerox, CIBC, Abbey National, General Electric, 3M and Pfizer