How have some companies found growth despite the odds? BCG research offers lessons from “uphill growers.”
BCG talks about uphill growth — mature business that found ways to grow sustainably– and suggests that it is important to consider key components of the organizations starting point to help define where growth will come from. The key components are competitive premium (higher gross profit margin) and competitive stability (relatively stable market shares, high entry barriers, etc).
The successful growth companies shared the following characteristics, they: 1. Earn the right to grow 2. Know their competitive advantage 3. Expand their field of vision 4. Integrate vision, choices and action.
Big data and models help overcome biases that cloud judgment, but many executive decisions also require bold action inspired by self-confidence. Here’s how to take charge in a clear-headed way.
This McKinsey Quarterly article landed in my inbox today. It argues for the need to use a combination of leadership talent, execution and inspiration as well as predictive models and date to make excellent decisions. “Players don’t predict performance; they have to achieve it. For that purpose, impartial and dispassionate analysis is insufficient. Positive thinking matters, too.” We certainly need big data — to analyze it, understand it, and make use of it. At the same time, we need big human thinking, inspiration, perspiration and teamwork to make sense and use of it all. See it on www.mckinsey.com