Rita McGrath

Discovery-Driven Growth: A Breakthrough Process to Reduce Risk and Seize Opportunity

Coauthor(s): Ian MacMillan.

Abstract:
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.

Exact Citation:
McGrath, Rita, and Ian MacMillan. Discovery-Driven Growth: A Breakthrough Process to Reduce Risk and Seize Opportunity. Boston: Harvard Business School Press, 2009.
Place: Boston
Date: 2009