Learn what type of leadership is most likely to foster the company's ability to grow profitably on an ongoing basis.
- Given their authority and power, … people who sit at the apex of the organization … have an outsized impact on whether or not … the company is able to grow. … What types of leaders, … in terms of their backgrounds and behaviors, … are more likely to foster the company's ability … to grow profitably on an ongoing basis? … It is important that the leadership team include … a mix of explorers as well as exploiters. … The term explorer refers to people … who are inherently very curious … and constantly look for new opportunities. … Explorers are more likely to have demonstrated … a track record of growing the businesses … that they were managing, … and for driving disruptive innovations. … The term exploiter refers to people … who tend to be somewhat conservative and less comfortable … with risk taking and change. … Exploiters are more likely to have demonstrated … a preference for incremental innovations, … and for driving efficiencies within existing businesses. … Leadership teams which include a balanced mix …
- 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.