The Alchemy of Growth: Practical Insights for Building the Enduring Enterprise by Mehrdad BaghaiGrowth unleashes benefits beyond the economic. It revitalizes organizations and invigorates the people in them, creating energy, a sense of purpose, and the glow of being on a winning team. Like the alchemy of old, it seeks to transform the everyday into the exalted by means that seem little short of magical. Yet growth is often elusive, achieved at unacceptable costs, or managed in fits and starts. Based on over three years of research and application at high-performing companies around the world, The Alchemy of Growth is a comprehensive, practical approach to initiating, achieving, and sustaining profitable growth—today and tomorrow. As the book shows, the secret is to manage business opportunities across three time horizons at once: extending and defending core businesses, building new businesses, and seeding options for the future. The Alchemy of Growth offers managers at all levels the tools and concepts for investing in the right initiatives, capabilities, and talent to propel their companies into the future.
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Time, Space and Horizon 1-2-3: A Changing Framework for Driving Organizational Growth
Enter your email address to subscribe to this blog and receive notifications of new posts by email. Sign me up! However, in the 21 st century the Three Horizons model has a fatal flaw that could put companies out of business and government agencies behind their adversaries. The three horizons are not bound by time. Horizon 3 ideas — disruption — can be delivered as fast as ideas for Horizon 1 — existing products. The Three Horizons provided an incredibly useful taxonomy.
McKinsey's Three Horizons of Growth are all about keeping you focused on Most of your immediate revenue making activity will sit in horizon 1. There may be an initial cost associated with your horizon 2 activities, but.
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Building the Innovation DNA
In the 20th century McKinsey created a model called the Three Horizons to explain how businesses must invest in current products, incremental innovations, and breakthrough innovations. The framework relied on time as a guiding factor; it assumes that truly breakthrough innovations will take years to develop. Technology has made that assumption incorrect: Today innovations like Uber and Airbnb can be rolled out extremely quickly. Because established companies tend to move slowly and must invest resources in existing products, this means that unlike in the 20th century, attacking disruptors now have the advantage. Over the years, HBR articles have referenced the Three Horizons as a foundation of innovation strategy, here , here and here.
All-in-one tools to manage everything your organization's working on. This is the first in a series of articles where we'll be diving into different strategic frameworks. We will explore which ones work best for different types of strategies. We're going to kick things off with one of my favorite strategy frameworks: McKinsey's Three Horizons of Growth. There are countless strategy frameworks out there, and we have already covered a few key frameworks which we think are extremely flexible and battle-tested over the years:. Activities that are most closely aligned to your current business.