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Growth is probably the single most important attribute a business can have. Data shows that when businesses grow, unit costs fall, profitability improves, employee morale is better, share price appreciates – and CEO tenure is demonstrably longer!
As McKinsey said in 2015: ‘Growth Is Magic!’
But here’s the Paradox:
“Even in the best of times our analysis shows that 9 out of 10 management teams fail to grow their companies profitably”
Bain and Co (2013)
It’s a paradoxical truth that despite the overwhelming importance of growth to a business’ medium/long-term success, most companies (90% according to Bain) fail to sustain profitable growth for any meaningful period.
‘The Growth Director’s Secret’ recently published by Bloomsbury examines this question and identifies 3 key reasons for the existence of The Growth Paradox:
After all – why is it that only 4% of businesses have a ‘Growth Director’ on their senior team?
A fundamental misunderstanding about how consumers choose between brands and make purchase decisions.
It’s no wonder that so many companies’ highly-researched commercial plans simply fail to deliver growth.
Each of these pose significant challenges to conventional business thinking and each is examined in some detail in the pages of ‘The Growth Director’s Secret’. The book goes on to reveal how new understanding of how our brains work and how we decide which brands to buy is driving radical new approaches to the task of positioning companies for growth, and how the very best businesses are beginning to utilise these learnings to out-grow their competitors.
Would your business benefit from understanding why The Growth Paradox exists, and what you can do to ensure your company is one of the 10% that grow profitably? Then visit the Think Again website to find out more, or sign up to view the blogs and video messages that summarise the major growth insights.
Who knows – you might just discover The Growth Director’s Secret!
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