 |
Situation
| An $800+ M
chemicals
business was unprofitable, had structural cost disadvantage, and no
feasible path to gaining cost advantage. Products were
semi-commodity. Margin pressure |
| No real new product
introductions within last 4 years |
| Desire to escape inevitable commoditization
and asset sale if no action taken |
Actions Taken
|
Built and ran a New Ventures group |
| Refined and
implemented process and tools for conceiving of, refining, building, and
scaling new ventures and breakthrough products/applications |
| Staffed up New Venture organization of 6 |
| Filled new venture idea pipeline |
| Began
development of specific new ventures |
Results
|
Several breakthrough new ventures entered the “Venture Start” phase |
| # of
Venture Plans and Venture Sketches met target |
| Pipeline
stoked with 20 later stage breakthrough product and business ideas and
several hundred early stage ideas |
|
