Chapter 1: Innovating and Outperforming the Competition
Challenge: The general proclamation from management that we need to become an innovative company leaves employees confused about their role.
Solution: The first chapter takes the mystery out of innovation by breaking it down into three steps - generation, acceptance and implementation of ideas. Typically, employees think of innovation only in terms of the first step, coming up with a unique idea.' Once they understand that successful innovation requires acceptance and implementation as well, they’ll realize that their contribution in those steps is equally important.
Over the past five years FedEx’s stock price has doubled. During the same period, UPS’s, its main competitor, stock price increased by only 15% and the S&P 500 fell by 20%. It has been recognized as one of the 100 Best Companies to Work for in America (1998-2004) and also as one of America’s Most Admired Companies (2001-04).
FedEx became an international powerhouse and one of the most trusted global brands by implementing leadership practices that tapped into the discretionary effort, creativity and commitment of its employees at all levels of the organization – the foundation of a thriving innovation culture.
As dean at a business school that has made innovation a key element of our culture, it is fascinating to read Madan Birla's account of how FedEx instilled that value for competitive advantage. His insights into the entire journey involved in innovation - and the organizational design it requires - make FedEx Delivers required reading for students and managers alike.
Dipak Jain
Dean, Kellogg School of Management
Northwestern University
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Chapter One: Innovating and Outperforming the Competition
Chapter Two: Overview of FedEx's Innovation Journey
Chapter Three: Why Organizations Don’t Innovate
Chapter Four: The Five Dimensions of an Innovation and Performance Culture
Chapter Five: Engage Employees in the Enterprise
Chapter Six: Expect and Help Employees to Continually Grow
Chapter Seven: Create a Secure Environment
Chapter Eight: Encourage Collaborative Development
Chapter Nine: Tap Employees' Commitment
Conclusion: Continuing to Lead the Way
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