The case study is about the Applied Research Technologies Incorporation, which is an emerging corporation in the field of technology. Company has built up its strength from mergers and acquisitions in the year of 1980 and 1990. As a result, in the year of 2006, the ART portfolio consist of 60 business units having major divisions of Industrial automation, Health care, HVAC (Heating ventilation and air conditioning) and Water management Division. Backbone of the business:-
The company success is based on the innovative environment and friendly culture for the entrepreneur mind people. The encouragement for innovative ideas can be idealized from the fact that company spends double money on supporting innovative ideas from the other industrial companies. This innovative culture comes from the top, because the CEO (David Hall) encourage employees to spend half day in a week in brainstorming, problem solving and experimenting which is referred as “tinker time”. According to the CEO, he likes to have meetings of managers and innovators so that new ideas emerged. According to him, it is the fact that you will not succeed every time but we should celebrate worthy attempts even they are unsuccessful. Knowledge Sharing:-
Knowledge dissemination and sharing is also a promising picture that reflects the cooperative culture of the company. Experts of different department help each other in the successful completion of the project as well as problem solving. Funding to entrepreneurial ideas:-
As discussed earlier, company serve significant amount of resources on innovative ideas. Whenever an idea comes which successfully complete the beta batch production and market potential analysis process also called “proof of concept”, quickly the resources are put behind the idea. CEO of the company wanted to minimize the period from the emergence of idea and the successful launching of commercial product. To convert this idea into reality company introduce a program which is referred as” fast track pipeline”, the main purpose behind this activity is to provide additional resources for the high priority projects. Competitive targets and executive compensation:-
As the structure of the company belief on decentralized decision making, so to coordinate the activities toward the completion of business as well as corporate goal highly performance targets are set followed by executive compensation. In 2006, the company gives the target referred to as 10(sale growth 10%)/ 15(pretax margin 15%)/ 20(return on investment). Work force Diversity:-
CEO of the company wanted to have a global presence. For this, he not only want to expand his business in different geographical areas but also to open its branches in different areas to grasp the talent and utilize for the further development of the company. In response to this idea, R&D group of ART has opened Indian Technical Center (ITC) in 2000. Filtration Unit:-
Our main area of discussion is regarding Filtration unit that struggled hard to reach at a success level. This business has been acquired in 1996 from oil and gas Service Company. Its core products are relating to the Government requirement of recycling of water at drilling sites and well heads. A change comes into this business when a 32 years old manager is hired for this unit called Vyas. Having an enthusiastic personality, he immediately starts hiring innovative and creative mind people into his team. Janice Wagner is one of those hired people who have already worked as marketing department of HVAC division of ART Inc. Small scale Oxidation Unit:-
Vyas has a strong belief that innovation is the key to success. So to make an innovative culture more strong, he hires a team of technology evaluation. During his review of current and some near past project, he came to know that ITC was working on a project of water purification for developing countries water...