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082317 McK Mastering 3 Strategies of Organic Growth (skills required for…
082317 McK Mastering 3 Strategies of Organic Growth
skills required for different strategies
all strategies
branding & developing the right mind-sets and organizational culture
investing & performing strategies
resource allocation
creating
developing products and services
performing
sales
pricing
investing & creating
data & analytics
performance metrics to assess growth initiatives
analytics-based insights generated timely leaders need to make good decisions
well-defined questions & biz
2 types of growth
organic growth
grow developed from within
non-organic growth
thru M&A
3 strategies for organic growth
(2) CREATING new
1-products
2-services
3-biz models
USAGE: best when
primary marketing not making money
increasing competition
products/services not sufficiently different from those offered by competitors
(3) PERFORMING: optimize core commercial capabilities
sales
pricing
mkt
(1) INVESTING in existing high-growth activities (act=proven winners)
reallocating resources
strategies usage
most companies: pursue only 1 strategy as their primary
top-growth/larger companies: use a combination
3 steps to driving organic growth
(1) focus c-level attention on growth
any growth program must start with prioritizing organic growth specifically, not just growth in general
required a clear understanding of how each strategy (investing, creating, performing) can change a biz's growth trajectory
(2) set clear goals for analytics --> require
recognition of analytics' value
willingness to invest in analytics
example of clear goals
acquiring more customers
converting customers to bigger-ticket items
(3) build agile muscles
reconfigure biz strategy, resources and organizations quickly
agile ways of working
culture of continuous learning & performance
by establishing performance metrics ie
time to market
number of pilots sent to market
action-oriented
give ee incentives to work quickly