Question 11: Any recent breakthrough thinking about how to achieve and sustain profitability?

June 29, 4:08 PMDallas Business Commentary ExaminerRobert Morris

Previous Next

Comment Print Email RSS Subscribe

Subscribe

Get alerts when there is a new article from the Dallas Business Commentary Examiner. Read Examiner.com's terms of use.

Email Address   Include other special offers from Examiner.com Terms of Use

Yes. For example, some of the most interesting ideas are examined in Discovery-Driven Growth: A Breakthrough Process to Reduce Risk and Seize Opportunity, co-authored by Rita Gunther McGrath and Ian C, MacMillan. During the planning process, they suggest the following guidelines:

1. Take advantage of organizational processes. “Although you want to reduce the assumption-to-knowledge ratio, [discovery-driven growth] works best when supported by other organizational processes.”

2. Manage the growth agenda. If growth really is an important goal, “have it in the number one, two, and three position on the agenda at every significant management meeting”; it must occupy a significant portion of everyone’s time and energy.

3. Maintain high tolerance of experimentation and disappointments. Having a failure-intolerant culture suppresses the generation of new ideas. Worse yet, “failing to balance tomorrow’s opportunities with today’s requirements in resource allocation usually shortchanges the future.”

4. Develop appropriate measurement and reward systems. How?

• Create common stakes within a “win-win” situation.

• Don’t involve people who have no prior experience with growth projects.

• Set an organizational standard for growth metrics at all levels and in all areas.

• Reward effective learning, rather than task completion.

• Create time to allow people to think about opportunities…and to allow insights, answers, solutions, etc. to reveal themselves.

You may wish to check out this Web site:

http://discoverydrivengrowth.com