|  Getting
Product Ideas from the Marketplace
Where can we get marketable ideas? Why not from
the market itself? As Roger Bean and Russell
Radford describe in their book ‘The Business
of Innovation: Managing the Corporate Imagination
for Maximum Results’ (AMACOM, 2001), 3M
has dramatically improved the effectiveness
of new product launches by drawing upon the
ideas of “lead users” -- customers
working at the leading edge of the marketplace
themselves. Of course, 3M determines the trends
in the target market by asking experts in various
technologies, but it also asks market members
to identify lead users and then develops product
ideas from discussions with them. The company
ensures the profitability of the ideas by hosting
workshops with groups of lead users to determine
not only what the breakthroughs are, but the
potentialmarket size for each. Click www.mworld.org/innovation
Hitting Strategic Targets:
What Every Senior Executive Should Know
Highlights from an AMA Executive Breakfast Briefing,
by William A. Schiemann and William S. Cogdill,
held on October 18, 2001, at the AMA Chicago
Executive Conference Center.
Measurement-Managed
Organizations (MMO’s) have learned how
to drive up results in both good and bad times.
They are disciplined enterprises -- outcome
focused and passionate about establishing norms,
standards, and related measures to ensure that
performance targets are clear, management is
committed to accomplishing them, and that systems’
distractions are minimized.
There are five key characteristics that distinguish
MMO’s from their less-disciplined competition:
- Focus
- Alignment
- Accountability
- Learning
- Foresight
There
is a decisive relationship between employee
satisfaction, customer satisfaction and loyalty,
and financial results. By carefully analyzing
the nexus among all three, MMO’s are positioned
to anticipate bottom-line results and take action
long before the quarterly numbers are a fait
accompli.
Click
for more: www.mworld.org/mmo
Interview
with Brian Tracy, best-selling author of “Focal
Point – A Proven System to Simplify Your
Life, Double Your Productivity, and Achieve
All Your Goals.”
Ever wonder why some people seem to accomplish
more than the rest of us, in both their personal
and professional lives? According to Tracy,
they know how to find their focal point –
the one thing they should do, at any given moment,
to get the optimal result. One part of Tracy’s
method is the "Grand SLAM" Formula,
which is designed to "double your income
and double your time off:”
SIMPLIFY: LEVERAGE: ACCELERATE: MULTIPLY:
Identifying
Employee Performance Problems
If you suspect that one of your employees has
a performance problem, it’s critical to
take action NOW, before the situation negatively
affects your entire team. Start by using our
checklist to determine whether or not a problem
really exists. Then, determine the reason behind
the problem.
Looking to the Future:
Effective Succession Planning
Succession planning may not seem to be a priority
at a time when companies are laying off employees.
But an organization’s survival depends
on an ongoing stream of top senior management
talent. In his book ‘Effective Succession
Planning: Ensuring Leadership Continuity and
Building Talent from Within,’ author William
J. Rothwell lists six steps critical to successful
succession planning:
- Make
the commitment. This means walking the talk,
with preparation of an action plan and communication
of that plan to those target groups to be
served by it.
- Assess
present work requirements. Identify key leadership
positions and determine the work requirements
for each.
- Appraise
individual performance. Since only those doing
well in their current positions should qualify
for advancement, such assessments are critical.
As part of this process, the organization
may want to set up a talent inventory system
that identifies human assets already available.
- Assess
future individual work requirements. Answer
the question: “What will be the work
requirements in key leadership positions in
the future?”
- Assess
future individual potential. The goal is to
identify the gap between current skills and
future needs and to develop the competencies
to fill future job needs.
- Close
the developmental gap. The organization needs
to allocate funds for a continuing program
in leadership development. Decision makers
should also look into alternatives to traditional
promotion-from-within methods of meeting succession
needs.
For
more, click: www.mworld.org/rothwell
Global
Manifest Destiny: Globalization and Life After
11th September
By John A. Caslione
Globalization of the world economy and that
of its businesses had been accelerating at unimaginable
speeds over the past decade. Until recently,
many in business and in government had begun
to believe that complete globalization of the
world's economy was inevitable, that it was
our destiny as humankind – our global manifest
destiny.
Then
came the tragedy we witnessed on the 11th of
September. While these may have been isolated
acts of ultra-extremists with an unacceptable
and untenable political or religious agenda,
the events of that dark morning have changed
life forever – not only for Americans,
but also for everyone in the world.
New Poll of HR Professionals
on Business’ Reaction to 9-11 Attacks
A
poll of 5,673 Human Resources professionals
sheds some light on how companies responded
to the terrorist attacks on September 11 and
how they think the workplace will change as
a result:
- Only
54% of respondents indicated their organization
had a disaster plan in place
- 66%
said their organization would put higher security
provisions in place
- 37%
expected that business travel would be curtailed
Members Enjoy Up to 50%
Savings on Selected AMA Seminars
To ensure learning, quality and individual attention,
AMA seminar class sizes are intentionally kept
low. On occasion, a few places remain in certain
sessions just a few weeks before they are scheduled.
As
a benefit to members, AMA makes these seats
available on a monthly basis in a Special
Seminar Alert section on MWorld. No other
discounts apply. Seminars must be purchased
via credit card at the time of booking and all
sales are final, with no refunds.
Click
on www.mworld.org/select below for more information about the discounted
January 2002 seminars.
To register, call this special member hotline
number: 1-800-313-8650. Be sure to mention
Priority Code XMBS.
Space is limited and restricted, and seats go
fast, so act now!
Learn by Day – Sleep Free at Night in the
Big Apple!
Every one of AMA’s more than 150 seminars
is offered in AMA’s New York Executive
Conference Center, conveniently located in Times
Square. And now, for a limited time only, when
you sign up for a seminar in New York City,
AMA will pay for your accommodation. You’ll
stay in the 3-star Crowne Plaza Hotel, adjacent
to the AMA New York Conference Center. Choose
from this: www.mworld.org/list_of_seminar_sessions.
Then call 1-800-262-9699
for details and to register.
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