Without innovation, it is impossible to sustain growth. Learn how to create a culture of growth that meets the right KPIs, but still drives innovation.
- Creating a culture for growth starts by making sure … that they key performance indicators, that is KPIs, … that drive performance assessment … for senior executives and business unit heads … include expectations regarding growth, … growth in market share, in revenues, and in earnings. … As the saying goes, you get what you pay for. … Beyond the right KPIs, however, … it's important to create a culture that drives innovation. … It's impossible to sustain growth without innovation. … The reasons are two-fold. … Without innovation, the company cannot sustain … or strengthen its competitive advantage. … Look at the ongoing battle for dominance … between iPhone, Samsung, and Google. … Without innovation, the company also cannot enter, … create or emerge as a winner in new markets. … Apple's rise to become the world's most valuable company … owes much to its ongoing entry into new market arenas, … iTunes, iPods, iPhones, iPads, … and most recently the Apple Watch, … as well as global expansion. …
- Recognize the problems a company may encounter if it does not achieve growth.
- Identify high-potential opportunities for growth.
- Identify new customers for existing products.
- Use assessment screens to choose the best opportunity.
- Evaluate partnerships and acquisitions as mechanisms to fuel growth.
- Break down the components of an effective and growth-minded leadership team.