Fulrath Award Abstract 2018- Waugh
Blending Cultures to Achieve Innovation
Mark D. Waugh, Murata Electronics North America, Inc., USA
For decades, Murata has been well-known in the ceramics world as a leader in the design and production of passive electronic components and solutions, communication modules, and power supply modules. So how does such an established global company leverage its core foundation and commitment to innovation to capture market opportunities? The answer–collaboration.
Consider the healthcare market. In the U.S. alone, costs have risen at a staggering rate and are unsustainable. However, new technological innovations can decrease these costs and positively change the health care model to a value-driven system.
Healthcare innovation thrives when different knowledge domains and areas of expertise come together. Many discoveries have been born following exposure to indirectly related ideas. However, these innovations can’t happen without high quality and continuous communication, both virtual and physical, and recognizing and dealing with the demands of all stakeholders. Thus, the ability of a company to blend cultures is key to taking a great healthcare technology idea from inception to realization.
Only by blending cultures can companies accelerate progress and leverage each other’s core competencies and technologies. Applying this approach, Mark and his colleagues have worked on a multitude of projects using a wide range of Murata innovations that resulted in a significant broadening of the company’s healthcare portfolio. This presentation will not only capture this theme, but outline the specific vision, strategy, and tactics that Murata took to achieve real-world, impactful results that are changing society for the better.