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The Fast Path to Corporate GrowthLeveraging Knowledge and Technologies to New Market Applications$
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Marc H. Meyer

Print publication date: 2007

Print ISBN-13: 9780195180862

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780195180862.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 01 August 2021

A Framework for Action

A Framework for Action

Chapter:
(p.33) Chapter Two A Framework for Action
Source:
The Fast Path to Corporate Growth
Author(s):

Marc H. Meyer

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195180862.003.0003

Ideas are essential for growth, but even great ideas are insufficient for success. What many companies studied lacked was an effective framework, or process, for developing those ideas into viable businesses. The traditional processes used to develop incremental products and product line extensions did not suffice when new market applications were the goal. When managers think about growth, too many, particularly in technology-intensive industries, think narrowly about new technology. Profitability is enhanced when these new applications share common product and process platforms. Learning must be done fast as well as effectively; in companies often the most learning takes place as the new product line is being test-marketed on real users. IBM's success is the foundation for the business process presented in this chapter—a management framework specifically designed for the rapid and effective development of new market applications: the fast path to corporate growth.

Keywords:   IBM, growth, traditional processes, incremental products, product line, new market applications, business process, management framework

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