By Scott D. Anthony
Even the best-performing businesses finally stall. maintaining momentumand last an excellent development companytakes a system.
Scott Anthony and David Duncan name the program a Growth Factory.” They’ve visible it paintings in a small set of elite businesses that experience created environments the place innovation is either repeatable and trustworthy, no longer relegated to an off-site or remoted department that has no genuine connection to the organization’s future.
In this HBR unmarried, Anthony and Duncan draw on their wide event operating with those progress manufacturing unit organizationsmost significantly Procter & Gamble and Citigroup. They spotlight the 4 major elements that make innovation repeatable and trustworthy, mentioning actual examples of what P&G, Citi, or even their very own enterprise, Innosight, have undergone to stick firmly on a direction towards progress regardless of large demanding situations. they give useful recommendation on how one can placed their method into motion on your personal companywhether it’s a wide multinational or a small start-up.
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Additional resources for Building a Growth Factory
Building a Growth Factory also includes a handful of illustrative examples extracted from our firsthand experience at Innosight, an eighty-person professional services firm where we both serve as members of the global leadership team. Whether you are the CEO of a multinational, multibillion-dollar company or the head of a three-person enterprise, we hope detailing the components of a functioning growth factory will help you to achieve the results you seek. 1. html, accessed September 17, 2012. Component 1: The Growth Blueprint Growth blueprint IN LEWIS CARROLL’S classic Alice in Wonderland, a lost Alice seeks guidance from the Cheshire Cat.
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About a decade ago, P&G augmented internal efforts and its $2 billion annual investment in R&D with a program called Connect + Develop (C+D), where the company taps into individual inventors who have expertise in areas of interest to P&G. The company set—and exceeded—a goal that at least 50 percent of P&G’s innovations would have a connection to an outside inventor by 2008. When P&G refreshed its C+D goals in 2010, it sought to become the partner of choice for innovation collaboration and to triple C+D’s contribution to P&G’s innovation development.