Achieving breakthrough growth: from idea to execution

Achieving breakthrough growth: from idea to execution

Govindarajan V., Trimble C.Ivey Business Journal, January/February 2006, No. of pages: 7

Purpose – To examine the process of strategy development. Design/methodology/ approach – Observes that strategy is no longer about protecting existing competitive advantage, but about creating and executing strategies that will deliver the next competitive advantage. Distinguishes three sets of strategic actions: managing the present and improving the current business; selectively abandoning the past; and creating the future. Argues that focusing on the first may secure the organization’s immediate profitability, but all three are needed to ensure the growth that will sustain market leadership on a ten year perspective. Reports that when surveyed, many Fortune 500 company executives rated their company much lower on strategic execution than on ideas generation. Stresses the relative benefits of improving strategy execution from a low base and presents a case study of the New York Times Company as it launched and developed its internet unit, New York Times Digital (NYTD). Uses this example to illustrate ten rules for building breakthrough businesses within existing organizations. Originality/value –A study of the challenges of moving into new business areas to achieve profitable growth.ISSN: 1481-8248Reference: 35AE843

Keywords: Business development, Organizational innovation, Strategic choices