How Strategy Innovation Is Implemented: The Case of Moen Corporation (Part 4)

As presented in the previous posts, yet in the early 1990s, Moen Corporation, located in North Olmsted, Ohio, found itself in a challenging situation. The company was losing market share and not positioned well for the changes that were beginning to take place in the market. To transform the company in order for it to grow, newly installed CEO, Bruce Carbonari, implemented a range of reforming strategies which brought fruitful successes. However, the company did not have a reliable process for the identification of new products. They needed a way to determine a corporate strategy and accompanying product plan that would help them to meet the higher growth rate they desired. Two teams (i) Project Periscope Team and (ii) the Extended Periscope team have been formed in order to move a plumbing fixtures company to a new level of excitement and innovation in the industry. Besides, some more strategies are also utilized. (This post is excerpted from The power of strategy innovation : a new way of linking creativity and strategic planning to discover great business opportunities by Robert E. Johnston, Jr., and J. Douglas Bate.)

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