Companies that want to stay successful and innovative routinely give death warrants to their products. Look at how many products Google alone abandoned more than a dozen in 2011. Here's how to keep commercial viability at the forefront, and what role marketing plays.
Early this year, New York governor Andrew Cuomo announced plans for the construction of the nation's biggest convention center (plus casino/hotel) in the New York City borough of Queens. With a planned 3.8 million square feet of exhibition space, the center has been billed as a way to make New York a raging hub of convention tourism and help it grab a larger slice of the $907 billion American-meetings-industry pie. It seems like a no-brainer. And it may well be—pejoratively speaking.
When it became apparent to us that there was an unnamed but growing ad hoc alliance of women executives, activists, and philanthropists working to remake global society, we quickly concluded that this effort needed to be brought out from the shadows.
"When that industry changed and I became an investor, I suddenly stepped back and I was able to look at myself, more like a chairman of the board would look at me as an employee, and say, 'Am I the best person for this job?' I don't think I actually was. And I don't think that company, based on the industry it was in and the passions that I have and the things that I do well, it was just not the best place. So I removed myself and I replaced myself as CEO. And by the time I did it, it was really easy to do." — Alison Provost
If you want your team to communicate effectively, the best thing to do is set some rules for brainstorming, and even reward people who take unpopular stances, says Pete Selleck, chairman and president of Michelin North America.