Best Practices in Talent Management: How the World's Leading Corporations Manage, Develop, and Retain Top Talent

ECOLAB’S 2002-2007 STRATEGIC PLAN

In 2001, Ecolab reported net sales of approximately $2.3 billion. As the company considered its future, the executive team (the CEO and his direct reports—the ten executives responsible for major business lines and functions) committed to an aggressive growth goal—they intended to increase revenues at a 15 percent annual growth rate for five years, which would more than double the company’s size by 2007. Ecolab’s growth strategy was multi-faceted:

• Capitalize on success to capture greater share in markets in which they were established leaders.

• Find and enter a new segment that represented a considerable growth opportunity.

• Develop a broader range of cleaning and sanitizing products and services they ...