The Morgan Cross Strategy Directors' Forum
From left: Stuart Cross, Mike Harris, David Johnston (Cobham plc), Simon Potts (Boots the Chemists), Steve Mason (Alliance Boots), John Dunstan (Interflora), Patrick Wolrige Gordon (Aviva plc), David Stead (Dunelm plc)
28 April 2009: Creating Innovative Organisations.
The recession is providing opportunities for innovation and growth for those companies willing to focus on identifying and developing new ideas. This was the conclusion of the Morgan Cross Strategy Directors' Forum held in London earlier today.
"Innovation is all about finding new ways to meet customers' unmet needs in a profitable way," said Simon Potts, Director of Business Development at Boots the Chemists and a member of the Strategy Directors' Forum. "The recession is creating new needs and the rewards will go to those companies which are best able to identify and serve those needs and wants."
Stuart Cross, CEO of Morgan Cross Consulting and Chair of the Forum, adds, "The members of the Strategy Directors' Forum clearly believe that innovation, not just cost-cutting, is the best way to short and long-term success. History also tells us that it is those companies which are willing to innovate in a recession that are also more likely to succeed during the period of economic recovery."
The guest speaker at the Forum session was Mike Harris, the founding CEO of two ground-breaking UK banks: First Direct and Egg. "Large companies that are good at innovation are remarkable and few," said Mr Harris. "However, mastery of innovation is valuable, low risk and possible, and organic innovation provides more reliable value to companies than M&A activity."
Alliance Boots
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