Creating Value in Turbulent Times
Abstract:OVERVIEW: Although the world has changed drastically in the past year, the need for businesses to invent products that people want and are willing to pay for has not changed. At The Dow Chemical Company, this innovation is managed so as to create maximum value for the company. There are a number of key strategies that Dow uses to manage innovation. These include balancing the timing of investments versus cash flows, managing fads, prioritizing across the company, savvy portfolio management, and as system of metrics that measure real success. Ultimately, successful leaders will do whatever is necessary to stick to their long-term strategy, especially during tough economic times.
Document Type: Research Article
Publication date: January 1, 2010
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