By Scott D. Anthony
Even the best-performing businesses ultimately stall. maintaining momentumand closing an exceptional development companytakes a system.
Scott Anthony and David Duncan name the program a Growth Factory.” They’ve obvious it paintings in a small set of elite businesses that experience created environments the place innovation is either repeatable and trustworthy, no longer relegated to an off-site or remoted department that has no genuine connection to the organization’s future.
In this HBR unmarried, Anthony and Duncan draw on their large adventure operating with those progress manufacturing unit organizationsmost particularly Procter & Gamble and Citigroup. They spotlight the 4 major elements that make innovation repeatable and trustworthy, mentioning actual examples of what P&G, Citi, or even their very own enterprise, Innosight, have undergone to stick firmly on a course towards progress regardless of large demanding situations. they give useful suggestion on how one can placed their procedure into motion on your personal companywhether it’s a wide multinational or a small start-up.
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Extra info for Building a Growth Factory
Lean-Forward Leaders 4b. Innovation Talent 4c. Measurement and Reward Systems 4d. Development Programs CONCLUSION: PARTING THOUGHTS Three Ways to Get Started Final Advice for Leaders About the Companies Summary References About the Authors Introduction: Staring Down the Growth Challenge IN 2012, two of the world’s largest multinationals celebrated momentous anniversaries: Procter & Gamble turned 175 years old, while Citigroup reached 200 years. While both companies have naturally had good days and bad days, surviving over such long periods is impressive and unusual.
When growth stalls, it can set off a devastating chain reaction. Company assets go underutilized, jobs are eliminated, competitors diffuse talent, and capital markets react. Management is forced to fight day-to-day fires rather than focus on innovation and growth, and the downward spiral intensifies. The leadership challenge for many companies is finding a way to keep their growth engines humming to avoid this downward spiral. ” But these piecemeal efforts often disappoint. Every stalled company was, at one point, a great growth company.
It sounds great to say it, but it feels less great when management shuts down a team that’s been exploring a space for six months that everyone thought was outside management’s comfort zone. That’s not a good use of anyone’s time. Instead, follow the guidance of Apple and its legendary focus. ” You can build general alignment around growth guidelines relatively quickly. Start by holding a series of one-on-one interviews to surface areas where there is broad agreement and areas where there are differing perspectives.
Building a Growth Factory by Scott D. Anthony