Custom Solutions for Organizations Our Approach The Learning Experience Blended Learning Solutions for Organizations Wharton Expertise Consumer Products and Retail Energy & Transportation Health Care and Pharmaceuticals Financial Services Manufacturing and Industrials Professional Services Technology and Communications Comprehensive Executive Programs Finance and Value Creation Leadership Development Marketing and Analytics Strategy and Innovation Our Clients Client Successes Accelerated Development for High-Potential Talents: Siam Cement Group Accelerating Growth through Customer Centricity: SunTrust Achieving Global Growth in Financial Services: CTBC Bank Agility in Tough Times: Santander Cultivating Relationship-Driven Wealth Management Leaders: Citi Delivering Superb Education in the Midst of a Global Crisis: The Wharton – Nanyang Business School Partnership Driving Innovation and Profits: The Philips Octagon Program Educating Financial Leaders for a Rapidly Changing Industry: ABA Stonier Elevating Excellence: Wharton’s Google Marketing Academy Shapes the Next Generation of Marketing Leaders Estée Lauder: The Impact of Deep Faculty Engagement Knowledge for Innovation and Sustainability: The Royal DSM Program Merck Global Human Health Executive Development Program Seeding the Next Generation of Leaders: FINRA Strengthening Social-Oriented Leaders: Women’s World Banking (WWB) Turning Finance Managers into Strategic Business Partners Turning Local Managers into Global Leaders: Braskem Group Enrollment Driving Innovation and Profits: The Philips Octagon Program The Challenge How can a well-established global company increase profitable innovation and collaborative leadership when market conditions are uncertain and past success patterns have discouraged leaders from taking risks? That was the challenge facing Royal Philips Electronics (Philips), a $38 billion global company and pioneer in health care, lifestyle and lighting solutions. The Goals Philips envisioned a leadership development program that delivered on three key goals: Equip its senior leadership potentials with the most advanced skills in innovation, value creation, and leadership. Instill a new leadership mindset that promotes innovation, collaboration and calculated risk taking. Create a cohesive pool of strong, like-minded leaders to fill Philips’ succession pipeline. Client Success Profile Download PDF The Philips Solution After an extensive search, Philips partnered with Wharton and the Center for Creative Leadership to create a program for its senior leadership potentials. The program included: Innovation, Strategy and Business Acumen — A customized set of tools and practices to improve the “innovation DNA” throughout Philips Leadership, Team-Building, and Influence — A practical approach for creating teams to establish the new innovation processes and culture Three Global Modules — A facilitated immersion experience to prepare leaders for global growth roles Six-Month Action Learning Projects — Projects that modeled the actual process of launching successful innovation initiatives within Philips — from start to finish — giving the participants a repeatable process for launching future innovations The Impact More Innovation: The 60+ projects over the past six years have driven innovation across multiple business units, geographies and product lines. Successful Innovation: More than 50% of the Octagon Projects are integrated into the Philips Innovation Pipeline. Profitable Innovation: Financial returns from the innovation projects have exceeded the costs of the program, increasing its value as a strategic investment. Excellent ROI: One project alone contributed more than 25 million euros in profits the first year, and the project model was replicated in several other markets. Strong Leadership Pipeline: Many Philips Octagon Program graduates were promoted into Executive Global Leadership roles. Would you like to learn more? To find out how Wharton Executive Education can help your company achieve its own customized solution, please contact Client Relations — Custom Programs. +1.215.898.1776 Email