Ted Fick: Turning Loss into Profit

As VP of Commercial Tire Systems at Goodyear Tire (2001-2003), Ted Fick executed a successful turnaround that included turning $20 million in annual losses into $45 million in annual profit. Ted Fick also drove a 20% increase in the business unit’s OEM market share, and led the turnaround of a 200-branch operation network threatened with closure from $25 million annual loss to more than $13 million in annual profit.

Also, read the following posts
https://tedfick.wordpress.com/2019/12/23/ted-fick-what-to-include-in-your-strategic-plan/
http://ted-fick.mystrikingly.com/blog/ted-fick-2000-01-svp-at-hino-diesel

Ted Fick: The Benefits of an Effective Product Development Strategy

Why develop new products?

As accomplished senior executive Ted Fick knows, having an innovative mindset and an efficient, effective product development process in place can do wonders for an organization—and can often provide the lift a struggling company needs to turn things around and regain a lost competitive edge. 

The Benefits of an Effective Product Development Strategy

As President at Thermo King Corporation, Ted Fick led the development and launch of the Tripac auxiliary unit—an innovation that forever changed the organization and the trucking industry, and which was key to the company’s eventual multimillion-dollar transformation.

Having spearheaded such an effort, Fick knows the benefits an effective product development approach can have for an organization, including:

· The opportunity to win more business and increase revenue through new innovation.

· The chance to improve your brand’s reputation for quality.

· The opportunity to reduce production costs through the refinement and improvement of existing products.