It’s safe to say that behind every effective business strategy are a series of underlying principles that provide for the foundation and guidance for its success and continuing prosperity. The four foundational business cornerstones I embrace and which I’ll speak to briefly are the following;
- Commitment to business growth through organic innovation by funding research and development at investments of 10% or greater as a percentage of the company’s total revenues.
- Develop and evolve your company’s product brands through your customer’s eyes.
- Continuously improve your company’s products and technologies by focusing on the few truly strategic core platforms.
- Hire smart, ambitious, get-it-done employees and lead them with emotionally intelligent innovation leadership skills.
Commitment to growth
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About the Author
Dana A. Oliver lives in Jacksonville, FL with his wife Linda and daughter “Lexi” Alexandra. He is the Senior Director of Research & Development at Medtronic’s Surgical Technologies ENT / NT division and has helped grow this business unit from $100 million to approximately $2 billion in annual revenues over fourteen years. He has approximately 30 years of experience in the field of medical devices, working for such companies as Medtronic, Genzyme, SIMS Level 1, Kirwan Surgical, and Strichman Medical. He has applied for over 30 patent applications and has been granted over 20 US patents to date.
Mantra Design – Innovate, Buy or Die!: Discover the Secrets for Profitable and Lasting Innovation reveals the secrets to identifying your customer’s unmet needs which in turn provide for premium priced, patent protected, market share leading products.
Mantra Leadership – Don’t Become the Emperor with No Clothes! highlights the emotionally intelligent leadership skills that can result in as much as 30% or greater in team productively.