Team,
Thank you for your dedication and execution this week. We’ve shown great work in June and I’m looking forward to seeing our hard work continue throughout FY16.
As you know, our six APAC Strategic Imperatives are highly interrelated. It is, however, useful to think of them in two main categories: CORE and TRANSFORM. Our CORE imperatives – talent, integration, and channels – will help us deliver steady business growth. Our TRANSFORM imperatives – value-based healthcare, services & solutions, and partnerships – will help us truly accelerate our business beyond our current offerings.
Underlying our imperatives is our central focus on unlocking, new profitable growth across APAC. We believe each of our six imperatives play a vital role in helping us to find and generate new growth. And, of course, growth is important because growth enables our Mission to impact more patients across APAC. To help us find these areas of opportunity, we’ve created a Growth Council focused on unlocking growth in APAC through a systematic approach. The Council meets monthly and is comprised of representatives from each business and geography to ensure every part of our business is thoroughly looked after.
The team will focus on identifying new growth drivers that will help us deliver the highest growth potential – these are the 20% of initiatives that will deliver 80% of the growth across APAC.
We categorize our growth ideas/initiatives into four major categories:
• Core Growth – These are growth initiatives that are funded and already exist within the FY16 AOP. These are important programs and we need to ensure things stay on track. A few examples of this type of growth program are the launch of our Diabetes pump and the launch of CoreValve.
• New Growth Ideas resulting from the acquisition – This category allows us to focus on the new growth ideas that result from legacy Covidien and legacy Medtronic coming together. Examples of this type of growth program are leveraging Covidien surgical staplers and sutures with Medtronic cardiac offerings and cross selling in legacy Medtronic or legacy Covidien accounts.
• Services and Solutions – this growth category is centered on identifying scalable services and solutions offerings that move us beyond pure product sales. Examples within this area include Cath Lab Managed Services, financing programs, and the scaling up our Healthy Heart for All offering.
• Inorganic Partnership Opportunities – In this category, we are identifying companies with whom we can partner/acquire/align to expand our value in the marketplace.
Finally, we are aligning the Growth Council process with the overall Strat Plan process so we can use the Council to drive alignment across businesses, regions and functions on key growth priorities.
Team, my point in sharing this with you is that all growth starts with an idea – and you may have the next best idea. The Growth Council will create charters, prioritize initiatives, fund based on growth potential and monitor progress to ensure we’re maximizing our efforts. Once initiatives are selected, we’ll start them off as pilots and, and when ready, we’ll scale them up.
The work that results from our efforts will be what sets us apart in APAC by solving for some pivotal healthcare challenges including access to our therapies. For that, I ask that when these initiatives come up, that we all rally behind them to ensure we’re maximizing the great opportunity ahead of us.
Thanks in advance for your energy, commitment and ideas on how we can unlock new growth across APAC.
Thanks,
Bob
Team, Thank you for your dedication and execution this week. We’ve shown great work in June and I’m looking forward to seeing our hard work continue throughout FY16. As you know, our six APAC Strategic Imperatives are highly interrelated. It is, however, useful to think of them in two main categories: CORE and TRANSFORM. Our CORE imperatives – talent, integration, and channels – will help us deliver steady business growth. Our TRANSFORM imperatives – value-based healthcare, services & solutions, and partnerships – will help us truly accelerate our business beyond our current offerings.Underlying our imperatives is our central focus on unlocking, new profitable growth across APAC. We believe each of our six imperatives play a vital role in helping us to find and generate new growth. And, of course, growth is important because growth enables our Mission to impact more patients across APAC. To help us find these areas of opportunity, we’ve created a Growth Council focused on unlocking growth in APAC through a systematic approach. The Council meets monthly and is comprised of representatives from each business and geography to ensure every part of our business is thoroughly looked after. The team will focus on identifying new growth drivers that will help us deliver the highest growth potential – these are the 20% of initiatives that will deliver 80% of the growth across APAC.We categorize our growth ideas/initiatives into four major categories:• Core Growth – These are growth initiatives that are funded and already exist within the FY16 AOP. These are important programs and we need to ensure things stay on track. A few examples of this type of growth program are the launch of our Diabetes pump and the launch of CoreValve.• New Growth Ideas resulting from the acquisition – This category allows us to focus on the new growth ideas that result from legacy Covidien and legacy Medtronic coming together. Examples of this type of growth program are leveraging Covidien surgical staplers and sutures with Medtronic cardiac offerings and cross selling in legacy Medtronic or legacy Covidien accounts. • Services and Solutions – this growth category is centered on identifying scalable services and solutions offerings that move us beyond pure product sales. Examples within this area include Cath Lab Managed Services, financing programs, and the scaling up our Healthy Heart for All offering.• Inorganic Partnership Opportunities – In this category, we are identifying companies with whom we can partner/acquire/align to expand our value in the marketplace.Finally, we are aligning the Growth Council process with the overall Strat Plan process so we can use the Council to drive alignment across businesses, regions and functions on key growth priorities. Team, my point in sharing this with you is that all growth starts with an idea – and you may have the next best idea. The Growth Council will create charters, prioritize initiatives, fund based on growth potential and monitor progress to ensure we’re maximizing our efforts. Once initiatives are selected, we’ll start them off as pilots and, and when ready, we’ll scale them up. The work that results from our efforts will be what sets us apart in APAC by solving for some pivotal healthcare challenges including access to our therapies. For that, I ask that when these initiatives come up, that we all rally behind them to ensure we’re maximizing the great opportunity ahead of us. Thanks in advance for your energy, commitment and ideas on how we can unlock new growth across APAC. Thanks, Bob
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