PERF RMANCE 04 - The Performance Portal - Ernst & Young

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Foreword One of the fundamental sources of organic growth in an increasingly competitive market is innovation. New products or services developed and brought to market speedily and effectively is what differentiates high- and low-performing global organizations. Innovation management can be described as the application of external evolution on internal business processes. As external evolution becomes more varied and volatile, the challenge for organizations to keep ahead of the pack is increasingly difficult. In this issue of Performance, we examine different aspects of innovation. For example, in “Choosing the right technology,” we consider a framework which can help organizations make informed decisions about their technological development. The article explains the four challenges which businesses need to confront in order to master technological change. The importance of networks and connections on innovation is explored in two different articles. The first looks at the powerful impact of online collaborative communities. By harnessing the power of these networks, organizations can tap into a collective knowledge which is far broader than could be achieved by more traditional methods. The article introduces the concept of “coolfarming,” enabling companies to lead in the development of the next hot phenomenon. “Connection as competitive advantage,” examines some of the risks inherent in these new social, collaborative communities, and offers some options as how to manage those risks well. The theme of effective collaboration is also strong in “Making a world of difference,” which gives some great, practical insight into how to improve the performance of intercultural teams. In the past, cultural awareness training has tended to focus solely on communication whereas, in reality, when problems occur, they are due to dissimilar expectations about how the work should be done and how performance should be managed. If your challenge is more around how to improve the speed with which your organization can react to or anticipate change, then there are two case studies which will be of interest. “Advanced Solution Center” examines how you can drive change at a faster pace. In a separate case study, we explain how transforming Fresenius Medical Care’s supply chain enabled the organization to respond more quickly to changes in customer buying patterns and, as a result, make cash savings of over 15 million euros from a reduction in stock holding. I hope the articles in this edition of Performance provide inspiration as you rise to the challenge of how to grow your business. Enjoy reading this issue! Markus Heinen Chief patron, Performance
Global Business Performance Thinktank Global Business Performance Thinktank (GBPT) is a community of colleagues from the Ernst & Young Advisory Practices around the world. The concept of GBPT started in early 2008 with its first initiative called Performance: a quarterly business journal which, since its launch, has achieved a global footprint with circulation spanning top business executives and leading academics from across Asia, Australia, Europe and the Americas. GBPT has already launched Performance in several international languages with region-specific content addressing local business issues in China, Japan, Latin America, Middle East, Russia, France and Germany. Performance has become a strong lever for the promotion of GBPT’s intellectual capital with its ideal synthesis of business practice and applied academic research. In the GBPT conference calls, guest speakers from academia and industry bring valuable external perspectives to the forum. The webcasts and podcasts of these calls will soon be available for download. The web portal for GBPT is an open platform to amplify the activities and connect a wider audience. All GBPT-generated content as well as articles/case studies of Performance are accessible through this vehicle: www.ey.com/performance. GBPT has become an integral part of Ernst & Young Global Advisory to foster innovation, performance, sustainability and to become one of the key pillars of “Quality In Everything We Do.” Contents Articles 04 Coolfarming: discovering the surprising power of social networks 12 Choosing the right technology: a framework for success 22 Making a world of difference: Collaboration.Excellence for intercultural teams 30 Measuring corporate sustainability, maximizing shareholder value Case studies 36 Connection as competitive advantage: driving performance via community 44 Advanced Solution Center: giving stakeholders a voice 48 Supply chain transformation: a blueprint for success 58 Competing for market share in rural India
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