China Forum Focuses on Next Steps to Growth
For two days in mid-September, ITT held its annual China Forum, which brings together company leaders from around the globe to discuss opportunities, challenges and ongoing activities in this strategically important country.
Each year, participants are treated to a spirited employee competition. In 2005, it was ping-pong in Shanghai. This year, it was badminton in Beijing. The change in games served as a reminder that the bar has been raised for ITT in China.
CEO Steve Loranger says ITT is creating a "second generation footprint" in China. Like many other companies, ITT moved quickly into China after the country opened its doors to global manufacturers in the 1970's. The primary mission was to establish a presence in the country, and with 10 manufacturing sites, two sales offices and more than 6,500 Chinese employees, that mission has been accomplished.
Now, our company is ready to take a more systematic approach to doing business in the country -- building new, lean-operating plants in Shenyang, Nanjing and Wuxi that manufacture multiple product lines and attacking the Chinese market in a more unified and coordinated manner.
As ITT gears up for greater growth in this country, the China Forum gave everyone a chance to become better aligned. Loranger outlined the ITT model for value creation. Other company leaders discussed the ITT Management System, offered a financial overview, talked about building a "One ITT" organization, and presented a state-of-the-union update of Fluid Technology and Motion & Flow Control, the two ITT businesses with the most market presence and potential in China.
Along with these ITT-wide messages were a number of China-focused presentations. ITT China president Bill Taylor and his team spent several hours running through the growth enablers that ITT must cultivate in China, including enhanced Lean capabilities, safety focus, talent management and sales capabilities. And outside experts gave talks on China's regional economy, most recent five-year plan, and water and wastewater markets.
As ITT's footprint in China has grown, so too has the Forum attendance. This year, the event brought together 140 people, including representatives from every ITT operation in China. They had the chance to ask questions of ITT executives and take part in breakout sessions focused on multiculturalism, ethics, compliance and the ITT Management System.
"We are making progress in China," says Bill Taylor, president of ITT China. "Our challenge is to make that progress quickly, and the Forum is a great way to get us all moving faster and in the same direction."
The China Forum brought ITT leaders to Beijing for two days of interactive sessions about the future of ITT in China, and included an ITT employee badminton competition. Speakers included (top photo, left to right) ITT China president Bill Taylor, Motion & Flow president Nick Hill and Fluid Technology president Hank Driesse. The winner of the women's singles badminton contest was Sharon Xu (bottom photo), who received an award from Bill Taylor.