Strategic Innovation: Embedding Innovation as a Core Competency in Your Organization

THE END OF AN ERA

By the end of the twentieth century, Whirlpool was not very different from many other industries that faced new levels of expectations to create shareholder value. Companies of all kinds grappled to find strategies that would yield the most growth opportunities.

Some companies adopted strategies to increase shareholder value by relying heavily on improvements in cost, quality, and productivity. Big savings were sought, largely through cost-cutting measures. Other companies in the manufacturing, service, and retail sectors put their emphasis on internal efficiencies. Some took cost and quality to a new level using techniques such as Motorola's Six Sigma program, in which Six Sigma experts commonly called “black belts” were trained ...