North American industrial manufacturers must embrace a strategy of innovation leadership to compete effectively in the global economy, according to a new thought-leadership monograph from Slayton Search Partners, “Making the Move from Mainstream Commodity Producer to Market-Creating Innovation Leader.”
In the paper, Slayton Executive Vice President Jon Stroup argues that the decision to compete based on innovation – as opposed to operational efficiency or price leadership – requires a dual commitment to capital spending and the recruitment of leaders who can drive both product development and corporate culture change.
To reposition an industrial company as an innovation leader, Stroup recommends recruiting R&D leaders and staff that are more than ‘lab coats’ – that is, people who enjoy working in manufacturing – because they must be respected in the plants in order to successfully lead a change in direction.
He also suggests recruiting from outside the immediate set of competitors to bring in a fresh perspective, and to locate the R&D Center close to the senior management team who needs to see and feel the impact of its investments in innovation.
And, while innovation doesn’t need to break the bank, companies must make a sustainable commitment to fund research and development. Setting measurable goals and timetables for their achievement will help minimize the investment risks.
Stroup makes his case by relating the experiences of two U.S. based manufacturing leaders in mature industries — Guardian Industries Corporation, a world leader in glass, automotive and building products sciences, and Superior Essex, a global leader in the design, manufacture and supply of wire and cable products.
“Guardian and Superior Essex deliberately reinvigorated themselves to create a culture of innovation that has generated new products, attracted top talent and fueled their recent growth,” Stroup reports. As a measure of its success, Guardian received 45 registered patents in 2006, a huge jump from the five patents it received in 1996.
Source and to download a copy of “Making the Move from Mainstream Commodity Producer to Market-Creating Innovation Leader,” visit www.slaytonsearch.com.
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