Friday, December 17, 2010

Article 7.6 Innovation

Innovation flourishes when new ideas and approaches are nurtured rather than discouraged...

Innovation is the generation of new ideas, new products, new services, and new ways of doing things. This is critical to our continued vitality. Innovation flourishes when new ideas and approaches are nurtured rather than discouraged, when a positive work environment is created, when risk taking is supported, and when experimentation is encouraged.

We must in our pursuit include the collection of competitive data. Comparison of FSG performance to the most effective competitors is critical. Our goal is to exceed the best competitors in those critical factors that are relevant to the strategy of each business unit.

Through ongoing competitive analysis, we will strive to understand our best competitors to ensure that we compete effectively.

ACTION POINT: Know and understand what the best in your industry do well, then strive to exceed them.

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