NEMA's electroindustry January 2010 - 18

electroindustry news Wayne Hellman, CEO of Advanced Lighting Technologies Inc., is actively engaged in an innovation team that consists of marketing leaders, engineers, and process managers that constantly analyzes new applications for their advanced lighting technologies. About half of his company’s revenues can be attributed to innovative technologies invented by ALT and applied in various situations around the world to improve the quality of light and/or reduce the use of energy. Tom Donovan, president of Panduit Corp., has created what could be termed a “venture marketing organization,” which emphasizes fluidity and flexibility. Employees are hired to fulfill “roles,” not permanent job assignments. Linkage of high-level objectives is achieved throughout the levels by alignment of objectives and measures. He is creating a new headquarters that features an open architecture that allows for adaptation to the number of people needed for teams assembled to execute specific projects as various opportunities arise. Thanks to the complex marketplace environment, the impact of global competition, and the pace of change, the leadership role for the top executive is simply too complex for one person, no matter how talented that person may be. As the number of dimensions and corresponding initiatives increases, so does pressure on supporting leadership among executive and managerial ranks. The capacity of these leaders to execute plans to create value in the knowledge-based marketplace must be considered in light of basic units needed to achieve the strategic plans. Often, however, potential leaders are assessed on the basis of past track records and job experiences. Such an approach is not likely to bring the best result, inasmuch as skills and experience in earlier settings are not necessarily precursors for success in achieving performance breakthroughs. Utilizing “performance driver” activities in the assessment process can ensure that the right person is positioned in the right job. Just as understanding atomic theory removed the uncertainty for the pioneers in chemistry, a similar understanding can help to address the uncertainty and challenges business executives now confront. Grasp of the interaction of basic units of competitive advantage can help business leaders understand the “chemical reaction” they are trying to create so that the “molecules” are formed in a way that achieves the desired outcomes. ei Copyright © Robert Wayne 2009 The principles surrounding management of intangible assets that have been developed through external as well as internal research, observation, and direct experience are the guiding lights for Delta’s assignments. These principles serve to form a thinking foundation that can enhance the management system so as to maximize potential of existing assets in order to attain the full measure of benefit that newly acquired executive or managerial talent can provide. He can be reached at: 614.799.4000 or rwayne@ mridelta.com 1 Robert S. Kaplan and David P. Norton, Strategy Maps, (Boston: Harvard Business School Press, 2004) Core Intangible Principles • Comprehensive understanding comes from objectives defined within four perspectives that exist within any organization. The outcome perspective is the financial. • Strategy is a set of hypotheses— logic formed by a set of cause and effect relationships. • Strength of the buying proposition for any customer is a function of the level of value perceived. The value proposition is explicitly defined within a customer perspective. • The nature of the basic units— activities, can be shaped by the translation of the logic through a chain of cause and effect formed with objectives and measures established in each of the perspectives. The value creation processes are defined within the internal business process perspective. • A learning/growth perspective explicitly defines the intangible assets. • Integration and alignment of the intangibles improves internal processes so as to empower them to deliver unique value that will flow to the customer perspective. • Intangible value is different than that created by tangible assets: intangible value is indirect, has potential, must be bundled, and is contextual. NEMA electroindustry • January 2010

NEMA's electroindustry January 2010

Table of Contents for the Digital Edition of NEMA's electroindustry January 2010