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Discovery-Driven Growth: A Breakthrough Process to Reduce Risk and Seize Opportunity, by Rita Gunther McGrath, Ian C. Macmillan
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You've been charged with growing your business. Incremental growth can no longer deliver the results you need. You need truly dynamic growth - and you need to achieve it without risking a hugely expensive gamble. How can you encourage innovative new ventures and pursue ambitious growth while minimizing risk?
In Discovery-Driven Growth, authors McGrath and MacMillan show how companies can plan and pursue an aggressive growth agenda with confidence. By carefully framing their strategic growth opportunities, testing each project assumption against a series of checkpoints, and creating a culture that acts on evidence and learning instead of blind stumbling, companies can better control their costs, minimize surprises, and know when to disengage from questionable projects--before it's too late.
Providing tools that will help you select and better assess the potential of any strategic venture, from new product lines to entirely new businesses, the authors outline a comprehensive process that lets you identify, manage, and leverage your company's full portfolio of opportunities. By reducing up-front costs and eliminating unnecessary risks, you'll be able to avoid missteps and explore more options to create the breakthrough growth that your business requires.
- Sales Rank: #138937 in Books
- Published on: 2009-02-17
- Released on: 2009-03-16
- Original language: English
- Number of items: 1
- Dimensions: 9.20" h x 1.10" w x 6.50" l, 1.19 pounds
- Binding: Hardcover
- 256 pages
About the Author
Rita Gunther McGrath is Associate Professor of Management at Columbia Business School. Ian C. MacMillan is the Dhirubhai Ambani Professor of Entrepreneurship and Innovation at the University of Pennsylvania's Wharton School. They are coauthors of MarketBusters and The Entrepreneurial Mindset.
Most helpful customer reviews
13 of 14 people found the following review helpful.
How to develop and execute business cases in an environment of uncertainty
By J. Groen
This is a very enlightening book that builds on the authors' HBR article of July-August, 1995 called Discovery-driven planning. Instead of the typical approach for evaluating innovative projects of complex, risk adjusted financials, that results in analysis paralysis, and reduces judgement, the authors suggest an innovative approach that focuses more on the assumptions and generates the results by backing into the financial justification with reverse financials. The assumptions based planning approach is very rich and powerful, and having used it myself a number of times with teams, I can tell you that it results in a very motivated team developed plan and business case. Then, instead of using the potentially bureaucratic "stage-gate" processes for governing execution that are in place today in most companies (but often don't work well with highly uncertain projects, by the way, due more to the mechanics than the process), they recommend an assumptions driven conversation based upon the completion of deliverables (of course, this could work with stage-gates but not the way that these are typically used today). The whole approach, I think, can be highly liberating for organizations today that are trying to get more collaborative and enabling. At the end of the book, through their experiences, they recommend approaches to getting the discovery driven approaches implemented. Consequently, I highly recommend this book for any innovation champion who wants to work on eliminating the burden that they feel in trying to get things done. I can't wait to use these tools myself.
3 of 3 people found the following review helpful.
Covers the same territory
By Clint Aust Centre
I think the book is well structured and easy to follow, but covers similar territory to their earlier book (The Entreprenuerial Mindset).
One of the important utilities of this book is that it creates a far better pathway to follow that the "ubiqutous business plan" and it does go a step or two further than their previous book.
A challenge for Australian reader is to adapt the systems to apply to a specific business, and in particular a small business operating in a rural or regional setting as many of our businesses do.
I am waiting for the field notes or workbook to be published by these authors - I will be first in line to buy it.
0 of 0 people found the following review helpful.
Five Stars
By Elisa Janiec
Great book - a very practical way on how to think about growth.
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