Utilizing e-technology, BP/Amoco's management information baseline is realigned in the post merger transformation process through an innovative approach. This effort establishes a benchmark for quick transformational change and grants senior executives transparency and access to performance data until business level. The transformation is comprehensive and far-reaching.
BP Amoco's approach to business has evolved from traditional diagnostic and strategic methods to a "do and learn" strategy that encompasses design and implementation. This new approach provides the company with a powerful internal venture capital to pursue high-impact ideas. Booz Allen's team engaged 1200 BP Amoco senior managers and executives in understanding the implications of e-business strategy, highlighting that innovation requires extra creativity and disruptive processes. It necessitates unconventional methods such as coloring outside the lines, which can be described using phrases like creativeness, bold man
...euvers, gigantic thoughts, the sound of creation, the color of magic, harmonic dissonance, and grasping the invisible. Often, a single actor or top management drives innovation implementation.
Despite organizational competition growing, there is an increase in employees' involvement practices (Lawler, 2001). The implementation of innovation is described as the transitional phase where targeted members improve their skills and become consistent in using innovation (Klein & Sorra, 1996, p.1057). Baron provides a fascinating profile on Medtronic, one of the leading companies in medical device innovation.
There is concern among analysts that the company may not maintain its remarkable growth rate. However, Baron's reports that CEO Art Collins is optimistic about Medtronic's ability to achieve a yearly sales increase of 15% over the next five years, which would result in the company doubling its revenue. Medtronic has several opportunities to attain these goals, and Collins believes the
are only just getting started. Gustave Manso, a finance manager from Brazil, believes that companies cannot create groundbreaking products and procedures without engaging in trial and error that produces both success and failure.
Robert Weisman (2006) believes that challenges can help creative individuals become more comfortable with taking risks and thinking big. Weisman suggests that in order to encourage employees to explore new ideas, it is important to accept early failure and reward long-term success. Monso shares a story that serves as a model for the fate of many businesses that celebrate experimentation, such as the experience of researcher Spencer Silver at 3M in 1968. Silver discovered a new type of adhesive that was initially deemed useless due to its lack of commercial application. However, Thomas J. later found a practical use for the adhesive.
From the 1920s to the 1950s, Watson, a renowned manager, was instrumental in driving the growth of International Business Machine. He famously stated that "the fastest way to succeed is to double one's failure". (Reference: Weisman, Robert, 2006, "In some cases nothing succeeds like failure", Hamel on Management Innovation, 2006; Slappendel, Carol, 1996, "Perspective on Innovation in Organizations Case Studies: Helping BPO Amoco set the Pace in The e world", http://www.boozallen.com/about/article/658434).
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