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Making Growth Happen - How to Manage Growth Initiatives Effectively Study shows the importance of context in managing strategic initiatives and provides practical guidance on how to make growth happen. No matter the macroeconomic context, companies pursue top-line growth to foster their competitive advantage, and many use strategic initiatives to deliver against ambitious plans. But such corporate-wide efforts all too often flounder, leaving companies to fall short of their strategic goals. Our research sheds light on the importance of choosing and implementing the right context for managing strategic initiatives and provides practical guidance on how to make growth happen. The cause of growth initiatives’ failure is quite complex. Why is it that while one company may grow extremely rapidly, rivals starting at the same point with seemingly comparable wisdom, capabilities, and strategy can be virtually wiped out? How is it that at some European insurance firms, for instance, where exactly the same growth initiatives are being pursued, some of them succeed and others are lagging behind? Our research demonstrates that such growth initiatives fail, more often than not, because insufficient attention has been paid to the process issues around the creation and execution of the strategy in the specific context of the company and the markets it operates in. In other words, the actual content of a growth strategy (the “what”) is only one part of the battle—and often not the decisive one. Whether the content involves innovation, diversification, internationalization, organic growth, alliances, mergers and acquisitions, or the creation of a wholly new market, executives need to understand the strategy’s mechanics (the “how”) if it is to work in practice. Only by achieving this understanding can they hope to undertake the approach to their growth initiatives that is most likely to lead to above-average performance. To better understand the practices underlying successful growth strategies, Booz Allen Hamilton and the University of St. Gallen, Switzerland, conducted a study across numerous global firms with various approaches to managing growth. Download "Making Growth Happen – How to Manage Growth Initiatives Effectively." study posted March 25, 2008
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