There have been numerous articles on company growth, yet this concept itself has seen a vast change in the ongoing digital age. This is because, unlike the earlier times, when those growing had to take systematic, strategic steps, now singular, bold steps may do, if executed properly. Now, even the industry incumbents need to up the ante, or else they may see their turfs being taken over. Due to a generally slow GDP growth globally, there is now a focus towards cost containment. Business research conducted by McKinsey clearly shows how the onus of innovation and growth lies with the top management of companies. They need to understand that performance and creation are essential drivers of such a thinking across the organization. The corporates also need to practice dexterity as a singular approach may not always work out, so a multi-pronged one insures somewhat against dynamic risks. But before approaching one’s colleagues, the senior leadership team needs to self-diagnose the existing flaws within the company.

Source:https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/setting-an-agenda-for-organic-growth-in-the-digital-age

Uploaded Date:16 March 2018