The Fortune Business Innovation Blog features a new interview with Fred Smith, chairman and CEO of FedEx, who shares his views on the current state of innovation and the strategies his company has used over the years to consistently deliver outstanding results in the shipping and delivery business. Clearly, as this excerpt shows, FedEx is committed to customer-focused innovation:
“Everyone must be empowered to act on behalf of customers… Since we innovate on behalf of our customer, we put a lot of effort into listening to our customers about what they need and want, and how we can improve or fine-tune our services. Research and analysis are the major tools of that listening process and we make extensive use of them… We (also) have a customer summit each year, in which our top management gathers to listen to various customers whom we invite and to brainstorm solutions based on what they tell us. The most successful innovation is built around five things: listening, brainstorming, choosing an idea, testing, refining and implementing.”
Smith will be a speaker at the upcoming Fortune Innovation Forum, November 30-December 1 in New York City.