Ted Fick: Driving Growth through New Product Development

Senior executive Ted Fick has been responsible for driving dramatic organizational growth throughout his career. One of his most notable accomplishments in this area came as President of Thermo King Corporation (2004-2007) – a role in which Fick spearheaded the development and launch of the innovative TriPac - auxiliary power unit.

In its first year on the market, the unit garnered more than $92 million in sales – a feat that not only provided a significant boost to Thermo Tripac King’s bottom line, but that earned Ted Fick a Chairman’s Award for new product innovation. And TriPac continues to be a remarkable asset to both Thermo King and parent company Ingersoll Rand.

“Even today, it is the market share leader,” says Ted Fick. “We were the first mover. We had it perfected long before the other 50 companies wanted to get in the game.”

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Ted Fick: Why Strategic Planning?

Ted Fick has been a leader of transformative, dramatic growth for a number of organizations throughout his career. An experienced senior executive with a solid track record for enhancing revenue and profitability with such firms as Goodyear, Thermo King Corporation and the Port of Seattle; Fick understands not only how to identify areas for potential growth, but also how best to build and execute strategies that take advantage of opportunities quickly and comprehensively.

As TedFick knows, achieving dramatic growth begins with a strategic plan – that which involves taking an entirely different look at the business, what it currently offers the customer and any areas that show potential for expansion or innovation. Typically, a strategic plan includes:

·         Examining how the business got to its current situation.

·         SWOT Analysis (strengths, weaknesses, opportunities and threats)

·         Identifying organizational goals, including short- and long-term.

·         Understanding the Action Plans necessary to accomplish its objectives.

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