Thursday, October 22, 2009

Taking opportunity inventory

While we're not out of the economic woods yet, the faint chatter of recovery can be heard in the distance. For most of us, day-to-day business is still about saving money, cutting costs, and increasing efficiencies.

The one thing we're all counting on, though, is that the economy will rebound and we will be able to switch our focus from a "do more with less" mentality to one of growth.

So how can we keep our eyes fixed firmly on the issues of the day and also look into the future? According to Rita McGrath, one way might be to create a special "growth group" within your organization. Growth groups take inventory of the opportunities for your organization, creating and managing a pipeline in support of the range of your functional or business lines.

In a recent article at Harvard Business Review, McGrath - author of, Discovery Driven Growth - discusses the purpose and characteristics of a growth group. Read the article here.

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