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Why do some companies come and go while others endure? According to McKinsey & Company, Inc. consultants Mehrdad Baghai, Stephen Coley, and David White, the secret to a lasting enterprise is sustained growth. In The Alchemy of Growth, the authors offer a practical guide for jumpstarting expansion and keeping it going. "Growth is a noble pursuit. It creates new jobs for the community and wealth for shareholders. It can turn ordinary companies into stimulating environments where employees find a sense of purpose in their work," they write. "Growth's transformative power is akin to the alchemy of old."
The authors describe the approaches that have succeeded in helping their corporate clients around the world to step up the pace. For instance, companies must simultaneously focus on "three horizons" critical to growth. The first is the current bread-and-butter of the firm; the second, the fast-developing entrepreneurial ventures; and the third, the ideas that will germinate into tomorrow's profits. The best part of the book: the real-life examples of firms that have transformed themselves from laggards to supercharged growth companies. Take Disney, for example. After founder Walt Disney's death in 1966, the company stagnated, with its theme park and film business slipping. But after Michael Eisner took over in 1984, Disney boosted its average annual returns to 29 percent, on the strength of growth in such new avenues as Disney stores, ESPN, and resort development. The Alchemy of Growth is an instructive handbook for managers interested in spurring their companies to new heights. --Dan Ring --This text refers to an out of print or unavailable edition of this title.
This slender volume is the latest in a growing number of books from accounting, management, or consulting giants. Here, the topic is that most elusive of business concepts, growth. Coauthors Baghai, Stephen Coley, and David White are partners at the renowned consulting firm of McKinsey & Company, specializing in growth strategies. They feel that the growth creation process has three stages: maximizing current business, building emerging issues, and developing viable options. This framework is used to examine successes and failures while exploring the interrelated issues of inertia, momentum, business history, opportunity, leadership, and sustained growth. The last third of the volume consists of two-page summaries of the 30 companies used as successful examples. The concepts are clear, logical, and well documented with footnotes, but this type of business book will date quickly even if the underlying theoretical framework is sound. Public and undergraduate libraries will find this an acceptable though optional purchase.APatrick J. Brunet, Western Wisconsin Technical Coll. Lib., LaCrosse
Copyright 1999 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
Simple yet comprehensive bible regarding the strategy for growth. Hamel and Prahalad, Adizes, Slywotzky and Morrison fill in a lot of detail under this overall thesis....Published 15 months ago by Dennis A. Starliper
Below are key excerpts from the book that I found particularly insightful:
1- "Growth's transformative power is akin to the alchemy of old. Read more
In my career I've been through eight Mergers and Acquisitions, and currently making my way through my ninth. Read morePublished on May 4, 2011 by Richard Tucker, PMP
Great read. It tells you how to identify and nurture new growth opportunities, an area where many good companies struggle. Read morePublished on January 31, 2011 by KG
This book provides a easy-to-understand mental model for thinking about organizational growth. However, the concept of growing and managing three "horizons" of growth at the same... Read morePublished on April 30, 2005 by tinotchka
An useful book ! Surviving in the future requests perspectives and actions. Companies have a life cicle and gaining right to survive for a long time is not simple. Read morePublished on October 9, 1999 by Andrea Marcosignori
The authors have focused on one type of real options - growth options - and written a useful book on the topic. Read morePublished on June 13, 1999