Subject category:
Strategy and General Management
Published by:
International Institute for Management Development (IMD)
Length: 12 minutes
Data source: Field research
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Abstract
This video describes how Bill George (Chairman and Chief Executive Officer: 1991-2002) and his team used Medtronic's common glue to take the company from relative obscurity to become the 'Microsoft' of the medical device industry. Within a decade, revenue increased from USD750 million to USD5.5 billion and market capitalisation from USD1.1 billion to USD60 billion. Sticking to the core business, adhering to the company's vision, mission and core values, encouraging diversity, regular communications from senior management and implementing a leadership training programme for senior managers were critical factors in Medtronic's success.
Location:
Industry:
Size:
27,000 employees, USD7 billion
Other setting(s):
2003
About
Abstract
This video describes how Bill George (Chairman and Chief Executive Officer: 1991-2002) and his team used Medtronic's common glue to take the company from relative obscurity to become the 'Microsoft' of the medical device industry. Within a decade, revenue increased from USD750 million to USD5.5 billion and market capitalisation from USD1.1 billion to USD60 billion. Sticking to the core business, adhering to the company's vision, mission and core values, encouraging diversity, regular communications from senior management and implementing a leadership training programme for senior managers were critical factors in Medtronic's success.
Settings
Location:
Industry:
Size:
27,000 employees, USD7 billion
Other setting(s):
2003