Published by:
Harvard Business Publishing
Length: 10 pages
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Abstract
Many formerly proud U.S. corporations are languishing from the devastating effects of seven familiar sins: inconsistent product quality; slow response to the marketplace; lack of innovative, competitive products; uncompetitive cost structure; inadequate employee involvement; unresponsive customer service; and inefficient resource allocation. What''s needed is a work environment that stresses speed, Spartanism, innovation, and marketplace focus. Top managers must decide what their company stands for and convince their employees of this uniqueness. They must set world-class standards and constantly pursue innovation. Other crucial factors are the right talent, an effective reward system, and CEOs that can drive the desired changes personally.
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Abstract
Many formerly proud U.S. corporations are languishing from the devastating effects of seven familiar sins: inconsistent product quality; slow response to the marketplace; lack of innovative, competitive products; uncompetitive cost structure; inadequate employee involvement; unresponsive customer service; and inefficient resource allocation. What''s needed is a work environment that stresses speed, Spartanism, innovation, and marketplace focus. Top managers must decide what their company stands for and convince their employees of this uniqueness. They must set world-class standards and constantly pursue innovation. Other crucial factors are the right talent, an effective reward system, and CEOs that can drive the desired changes personally.