Tim Solso, chairman and CEO of
Cummins Inc., retooled his companies culture. Employees today are encouraged to
take smart business risks, while at the same
time promoting data-based decision-making
through the use of Six Sigma and other analytical tools.
For example, Cummins has become the
technological leader in meeting stringent
diesel engine emissions standards worldwide,
which gives the company a competitive
advantage in the market. That innovation
has resulted in Cummins forming new businesses in recent years, first to meet its own
needs and now to also meet the demands of
existing and new customers.
The company’s strong financial position
today allows it to aggressively pursue profitable growth opportunities in related markets. For example, Cummins has launched a
light-duty diesel engine program in both the
United States and China that will allow it to
enter new market segments with significant
volumes by the end of the decade. These
products are based on proven Cummins
technology and driven by the demand for
efficient, clean-running diesel engines in
vehicles, such as light commercial trucks,
pickups, SUVs and commercial marine
applications.
Additionally, Cummins has in the past
year established a “Growth Office” within
the corporate organization to foster, analyze and where appropriate, pursue ideas
for new business opportunities. This entrepreneurial office is designed to operate
with a small permanent staff and draw in
“free agents” from around the company to
assist as their skills and the projects merit.
The goal is to develop disciplined ways to
quickly respond to potential market opportunities.
HOW TO REACH: Cummins Inc., www.cummins.com