The Transformative CEO: IMPACT LESSONS FROM INDUSTRY GAME CHANGERS by Jeffrey J. Fox & Robert Reiss

Author:Jeffrey J. Fox & Robert Reiss [Fox, Jeffrey J. & Reiss, Robert]
Language: eng
Format: epub
ISBN: 978-0-07-179499-2
Publisher: McGraw-Hill
Published: 2012-05-16T16:00:00+00:00

• Listen to customers.

• Have a high tolerance for rule breakers, as it relates to innovation, but not for breaking the company’s culture rules.

• If someone proposes a promising idea, assign the development of the idea to that person.

Bill Roedy (Founding CEO, MTV International): “We had this highly successful franchise, with lots of popular shows, but the content was all designed for the American market. If you are only targeting Americans, that’s fine. But if you are going to be global, you need to innovate your products to reflect and be relevant to local customers, especially with media. It’s not one cola or one burger, but instead a TV channel that reflects and respects local cultures. The brand name is the same, but innovation is needed to adapt the product to meet the differing consumer tastes in Brazil or India or South Korea.”

Differentiation is innovation. Your differentiation, your product or service point-of-difference, need not be “better” than a competitor’s, just different. The folks in your local breakfast spot who smile, are different than the bored, indifferent waitress down the street. You must differentiate your product, particularly if your competition is big and dominant.

Griffin Hospital is a small 160-bed community hospital. In each direction of the compass, just 12, or so, miles away, there is a major hospital. The people in the Griffin Hospital’s market area can drive 12 miles and get care at large city hospitals including the well-known Yale-New Haven.

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