AIM Archives - Tag: market-facing innovation

Business leaders should train like champions in any other endeavor.

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Be it chess or golf, champions know they must train. A striking difference between business leaders and rock climbers is that the former often think they can reach the top without proper training. Imagine showing up at the base of El Capitan with recliner-chair abs, the wrong gear, and no climbing skills. Ridiculous? What about businesses that proclaim double-digit growth plans year after year, but do nothing to prepare for their climb? A good start is acquiring business-wide training and tools for market-facing innovation. (See 2-minute video, Build your growth capabilities.)

More in article, New Product Training: Time to Build Growth Muscles

Quiz: Which of these initiatives leads to rapid, profitable, sustainable growth?

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Here are your choices: 1) quality upgrades, 2) productivity gains, 3) cost cutting, 4) sales training, 5) customer intimacy, 6) global expansion, 7) acquisitions, and 8) market-facing innovation. There’s only one correct answer and it’s #8: market-facing innovation. The others may be fine initiatives, but they won’t deliver growth that is rapid, profitable and (especially) sustainable. Not so sure about that?

More in article, Is it time for a growth capability diagnostic assessment?