Tài liệu 7-8. hbr 2004 july-aug

SoPuEblCe IIsAsuLe Champions of Profitable Growth…page 59 D www.hbr.org Top-Line Growth [The Leader] 66 [The Deal] Amgen CEO Kevin Sharer: A Time for Growth When to Ally and When to Acquire Jeffrey H. Dyer, Prashant Kale, and Harbir Singh Paul Hemp [The Idea] [The Customer] 116 76 Getting the Most out of All Your Customers Funding Growth in an Age of Austerity Gary Hamel and Gary Getz [The Strategy] Jacquelyn S. Thomas, Werner Reinartz, and V. Kumar 86 Darwin and the Demon: Innovating Within Established Enterprises [The Dilemma] 124 How CEOs Manage Growth Agendas Kenneth W. Freeman, George Nolen, John Tyson, Kenneth D. Lewis, and Robert Greifeld, with an introduction by Ranjay Gulati Geoffrey A. Moore [The Market] 108 94 Selling to the Moneyed Masses Paul F. Nunes, Brian A. Johnson, and R. Timothy S. Breene July–August 2004 The advantage of working together is amazingly clear. Over the past 40 years, we’ve built partnerships with automakers, universities and government agencies, which have helped reduce new car emissions by 96%. Partnerships like these are helping us develop cleaner, more efficient energy for everyone. Because together, anything is possible. Official Partner of the 2004 U.S. Olympic Team Turning partnership into energy.™ ©2004 ChevronTexaco Corporation. ChevronTexaco is a trademark of ChevronTexaco Corporation. 36 USC 220506 Andre Agassi’s coach Introducing the Collaborative Business Experience www.us.capgemini.com “Helping him get results, that’s what I’m all about” HBR 94 To p - L i n e G r o w t h Features July–August 2004 86 66 THE LEADER A Time for Growth: An Interview with Amgen CEO Kevin Sharer Paul Hemp Leaders face big challenges when their companies are on a roll. One of the biggest, says the CEO of the world’s largest biotech company, is learning to juggle them all at once. 76 THE IDEA Funding Growth in an Age of Austerity Gary Hamel and Gary Getz Solid, enduring corporate growth springs from innovations, not acquisitions. But that doesn’t mean R&D spending has to go through the roof. Here are five proven ways to innovate on the cheap. 86 T H E S T R AT E G Y 108 Darwin and the Demon: Innovating Within Established Enterprises 94 76 THE DEAL When to Ally and When to Acquire Geoffrey A. Moore Jeffrey H. Dyer, Prashant Kale, and Harbir Singh Innovate or become extinct. But choose the form of innovation carefully – different phases of a market’s life favor different types. Avoid dismal results from acquisitions and alliances by systematically comparing the two strategies before you make a deal. Here’s a framework for determining the best option for achieving your growth objectives. THE MARKET 116 Selling to the Moneyed Masses THE CUSTOMER Paul F. Nunes, Brian A. Johnson, and R. Timothy S. Breene Getting the Most out of All Your Customers The top 20% of earners in the United States account for 49% of total income, yet they make up only 37% of the country’s total spending. That spells opportunity. Marketers should be looking for ways to reach the new affluent masses. Loyal customers don’t produce stable, healthy growth. Profitable ones do. A new analytical tool can tell you how many marketing dollars you really need to spend (and just what to spend them on) to find those customers – all of them. Jacquelyn S. Thomas, Werner Reinartz, and V. Kumar 124 THE DILEMMA Kenneth W. Freeman, George Nolen, John Tyson, Kenneth D. Lewis, and Robert Greifeld, with an introduction by Ranjay Gulati Too many companies are caught in a deadly game of commoditization that gets in the way of growing the top line. Five executives tell us about growth strategies that have worked for them. 116 6 continued on page 8 harvard business review COVER ART: CURTIS PARKER How CEOs Manage Growth Agendas “We’ve cut our build-to-order lead times by over 50 percent with PeopleSoft Manufacturing.” — John Wigginton, Vice President of IT, Cybex Great companies around the world rely on PeopleSoft enterprise application software. Growing companies like Cybex outmuscle the competition with PeopleSoft Manufacturing solutions. Now a demand-driven enterprise, Cybex has dramatically collapsed order lead time, while lowering inventories and ensuring on-time delivery. To find out more, visit www.peoplesoft.com/goto/demanddriven or call 1888 773 8277. Manufacturing HBR D e pa r t m e n t s 106 July–August 2004 S T R AT E G I C H U M O R BEST OF HBR 10 138 Marketing Myopia FROM THE EDITOR Theodore Levitt Growing at a Smart Pace Recently, 250 top executives from one of the bluest of blue-chip companies attended a weeklong executive-education program at Harvard Business School. What was the one topic they studied? Top-line growth. For those who did not attend, read on. The secret to ensuring continued growth lies in a lesson too many industries have learned the hard way: Instead of thinking about their products, companies must think about their customers. 10 150 The Middle Manager as Innovator Rosabeth Moss Kanter FORETHOUGHT 18 What Every CEO Should Know About Creating New Businesses 21 Turn Your Budgeting Process Upside Down 24 Which Way Should You Grow? 27 Stop Kissing Frogs 29 Innovation as a Last Resort 35 Some of the greatest achievements come not from the top but from the middle. With access to the right resources, enterprising middle managers can uncover opportunities and make change happen. 18 162 Staple Yourself to an Order Benson P. Shapiro, V. Kasturi Rangan, and John J. Sviokla Many organizations suffer from gaps in their order management cycle that can cause internal strife and damage customer relationships. By “stapling themselves to an order,” managers can isolate these breakdowns, helping their companies reconnect with customers and improve financial performance. BOOKS IN REVIEW The Growth Boosters Pankaj Ghemawat The economy might have been stalled, but there’s been no shortage of books on growth. Which ones are worth your time? One expert offers a critique of three recent books and sounds a cautionary note against overzealous growth targets. 45 35 172 Value Innovation: The Strategic Logic of High Growth W. Chan Kim and Renée Mauborgne The difference between high-growth companies and their less successful competitors is a matter of fundamental assumptions about strategy. HBR CASE STUDY Cross Selling or Cross Purposes? Ford Harding Cross a software maker with a consulting firm, and the result is a clash of cultures, a dysfunctional compensation system for sales, and customers who say they’re being driven nuts. 59 45 181 LETTERS TO THE EDITOR Playing hardball can make a company a champ – or maybe just a bully. BIG PICTURE 184 EXECUTIVE SUMMARIES 192 PA N E L D I S C U S S I O N Champions of Profitable Growth G. Bennett Stewart III Growth is good, as far as it goes. But not every company that succeeds in driving top-line growth can convert it into shareholder value. Here are the ones that have. 8 Soup to Nuts Don Moyer 138 If your brand is a confusing, unappetizing stew, it may be time to get back to basic ingredients. harvard business review SUPPLY CHAINS. SYNCHRONIZED. UPS can help you shorten your supply chain. For a technical explanation, see figures A. and B. SM At UPS Supply Chain Solutions , we have the full range of expertise to help you turn your supply chain into a strategic asset. Supply Chain Design and Planning We’ll help you take a critical look at your current supply chain. Then work with you to design a more effective model. One that makes better use of your resources, and ultimately gets your inventory to market faster. Logistics and Distribution Services We can help improve your global distribution process by finding better ways to handle materials sourcing, order fulfillment, and even final delivery compliance. We’ll also make sure your reverse logistics are working just as efficiently. Transportation and Freight Whether you’re shipping ocean, air, road or rail, our network can handle it all. We combine freight services with customs brokerage and warehousing. And we have the technology to give you visibility of your goods all along the way. International Trade Management UPS has been helping customers trade internationally for over 70 years, with customs brokerage services that span the world. All of which means faster customs clearance, fewer cargo delays, and reduced noncompliance fees. © 2004 United Parcel Service of America, Inc. UPS, the UPS brandmark, and the color brown are trademarks of United Parcel Service of America, Inc. All rights reserved. UPS-SCS.com 1-866-822-5336 FROM THE EDITOR Growing at a Smar t Pace ou are holding a special double issue of Harvard Business Review. It is a collection of the best thinking we could find on a topic that is paramount in executive offices: growing the top line. How important is it? A few months ago, the Harvard Business School campus was flooded with 250 top executives from one of the bluest of blue-chip companies. The entire senior team came for a week, including the CEO for most of the time. They studied one subject: topline growth. Consider this issue of HBR the next best thing: a comprehensive look at the sources of sales growth; the strategies that produce it; the means of ensuring that it is profitable; and – crucially – the role of leaders in promoting and sustaining it. Senior editors Julia Kirby, Anand Raman, and Bronwyn Fryer planned this issue to be thorough, first – to cover the topics you would expect to see, from innovation to marketing to mergers. But they also wanted it to surprise – to shine new light on familiar subjects and to discover original ideas in unexpected places. I hope you’ll agree that they succeeded brilliantly. It seems almost arbitrary to pick just a few items from this jewelry box, but here are some things I learned (and a couple that I relearned) as the articles came across my desk: • I knew that innovation is more than new product development. There’s innovation in marketing, in business models, in processes, and more. But till I read Geoffrey Moore’s “Darwin and the Demon,” I hadn’t realized that where a product is in its life cycle determines which kind of innovation will do the most good. We’ve long wanted to publish Geoff – the author of Crossing the Chasm, among other books – and it is a pleasure to welcome him. • I knew most companies make a hash of both acquisitions and alliances. But I hadn’t figured out that often the problem is that companies take over firms they should have collaborated with, and vice versa. Brigham Young’s Jeff Dyer, Michigan’s Prashant Kale, and Wharton’s Harbir Singh (the latter two also new to HBR) show how companies can avoid a lot of grief by understanding how to choose between allying and acquiring. 10 • I’d read much about income distribution. But in “Selling to the Moneyed Masses,” Paul Nunes and Tim Breene, both from Accenture, and researcher Brian Johnson surprised me with data that ought to make every company reexamine its customers: While your marketing people targeted ever-narrower customer segments, a new mass market was forming – a forest of prosperous customers you may have missed from looking too closely at the trees. • And I knew that CEOs have a special perspective because of their responsibility for allocating capital within the companies they lead. But this issue includes the voices of six chief executives – an interview with Amgen’s Kevin Sharer, and thoughtful essays by five others, with a commentary by the Kellogg School’s Ranjay Gulati. The top line looks different from the top. You can’t explain that difference – but you can experience it, and you do in these articles. A final note: One of HBR’s greatest strengths – which our authors know but which is almost invisible to readers – is our cadre of manuscript editors. Most magazines have staffs of copy editors, who correct grammar and spelling, fix inconsistencies, and apply a final polish to prose and style. HBR’s manuscript editors – Christina Bortz, Lisa Burrell, Roberta Fusaro, Margaret Hanshaw, Andy O’Connell, and Andrea Ovans – do that and more. They become partners with the authors and senior editors. Sometimes they find subtle errors of logic or design; often they take charge of making charts and exhibits clear and useful; always, and almost magically, they turn knotty passages into straightforward, even elegant prose. And they do it on deadline. This double issue, with 14 full-length articles, put huge demands on the manuscript editors, who met the challenge heroically. You wouldn’t be reading it without them. ROBERT MEGANCK Y Thomas A. Stewart harvard business review for the first time ever, fly non - stop from new york to singapore. Now the world is an even smaller place. After introducing the first non-stop flight between Los Angeles and Singapore in February, Singapore Airlines now offers daily non-stop service between New York ( Newark ) and Singapore. Enjoy more comfort and space on our new Airbus 340 – 500 while reducing travel time by up to four hours. Experience a more luxurious Raffles Class or our new Executive Economy Class, both specially designed with the executive traveler in mind. And of course, the inflight service even other airlines talk about. www.nonstop2singapore.com PROCESS HUNDREDS OF PAYMENTS IN MINUTES... 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Raman SAVE THOUSANDS OF DOLLARS IN TRANSACTION FEES! ● editor Thomas A. Stewart Make global payments in any currency, anytime, and manage accounts online 24/7. Each payment instruction is uniquely authenticated and a sophisticated transaction engine delivers error-free data. Fully redundant operations centers facilitate the routing of payments, ensuring information is never lost. Real-time posting gives you an accurate, instant global status report with just a few clicks. To make your global payment system world-class, see our free online demo at www.globalclearingdemo.com/hbr or call 1-888- 457-1231, ext. 2140 today. ExactPay is a registered trademark of ExactPay N.V. ExactPay Global Clearing is a key feature of the First Curaçao International Bank, N.V. online banking service. associate editor Eileen Roche consulting editor Louise O’Brien manuscript editors Christina Bortz Lisa Burrell Roberta A. Fusaro Margaret K. Hanshaw Andrew O’Connell Andrea Ovans editor for business development John T. Landry executive editor and director of derivative products Jane Heifetz senior production manager Dana Lissy associate production manager Christine Wilder senior designer Jill Manca production coordinator Josette AkreshGonzales design/production coordinator Heather Barrett communications manager Cathy Olofson editorial coordinators Kassandra Duane Andrew Gray contributing staff Amy L. Halliday Amy N. Monaghan Annie Noonan Suki Sporer editor-at-large, harvard business school publishing Walter Kiechel a note to readers The views expressed in articles are the authors’ and not necessarily those of Harvard Business Review, Harvard Business School, or Harvard University. Authors may have consulting or other business relationships with the companies they discuss. submissions We encourage prospective authors to follow HBR’s “Guidelines for Authors” before submitting manuscripts. To obtain a copy, please go to our Web site at www.hbr.org; write to The Editor, Harvard Business Review, 60 Harvard Way, Boston, MA 02163; or send e-mail to [email protected]. Unsolicited manuscripts will be returned only if accompanied by a self-addressed stamped envelope. editorial offices 60 Harvard Way, Boston, MA 02163 617-783-7410; fax: 617-783-7493 www.harvardbusinessonline.org Volume 82, Number 7/8 July–August 2004 Printed in the U.S.A. ON INCR EAS ING RO I M M FREEING UP PE OP LE TO F US OC EA NS CUT F RO S ME O C TI N G C O S T S W H IL E B O OS TI NG PROD UC TI V I T Y W HI C H HR&Benefits Outsourcing | Payroll | Retirement&Financial Management | Health Care | Talent&Organizational Change ©2004 Hewitt Associates LLC www.hewitt.com/results MITSloan Executive Education publisher Cathryn Cronin Cranston Innovation is dependent on effective execution as well as creative ideas. MIT Sloan Executive Education provides the tools and frameworks to transform today’s good ideas into tomorrow’s successful products and services. With our world-renowned faculty and legacy of leading-edge research, we offer programs that turn high-potential managers into innovative leaders. innovation @work The MIT Sloan Fellows Program in Innovation and Global Leadership A selective and intensive master’s program for mid-career executives. Now offered in full-time and flex-time options. 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No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without written permission. Oracle Applications Runs The Oracle E-Business Suite The Best Companies Run Oracle Applications oracle.com/best or call 1.800.968.4664 Copyright © 2004, Oracle Corporation. All rights reserved. Oracle is a registered trademark of Oracle Corporation and/or its affiliates. 7-ELEVEN® and the 7-ELEVEN Design are registered trademarks of 7-Eleven, Inc. F o r e t h o u g h t thinking about… What Every CEO Should Know About Creating New Businesses Decades of research agrees – growth ultimately means starting new businesses. That’s not easy, more for cultural than economic reasons. by David A. Garvin “Some problems,” wrote Laurence J. Peter, the business humorist, “are so complex that you have to be highly intelligent and well informed just to be undecided about them.” Top-line growth is one of those, especially when it comes to creating new businesses within large, complex companies. The challenges are vast, and it’s difficult to know how, or even whether, to move forward. Most CEOs would benefit from having a few rules of the road. Fortunately, scholars have studied the problem for decades. And whether they’ve called it “new business creation,”“corporate venturing,” “corporate entrepreneurship,” “corporate innovation,” or “intrapreneuring,” their observations have been remarkably similar. Yet these findings have seldom been summarized or presented in an easily accessible form. Here, then, is a primer on the topic–the ten things every corporate venturer should know. 1 | Ultimately, growth means starting new businesses. Most firms have no alternative. Sectors decline, as they did for Pullman’s railroad cars and Singer’s sewing machines. Technology renders products and services obsolete – the fate Polaroid suffered, as digital cameras decimated its instant photography franchise. Markets saturate, as Home Depot is now finding, after establishing more than a thousand stores nationwide. may be necessary for long-term growth, but successes are hard to pull off. The numbers are downright depressing. In the 1970s and 1980s, 60% of small-business start-ups failed in their first six years. Large companies did only a bit better. A study of sizable corporations during the same period, which included such household names as DuPont, Exxon, IBM, Procter & Gamble, Sara Lee, 3M, and Xerox, found that they divested or closed 44% of their internally generated start-ups and 50% of their joint ventures in the first six years. 18 harvard business review PATRICK BLACKWELL/WORKBOOKSTOCK 2 | Most new businesses fail. New businesses