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The Alchemy of Growth: Practical Insights for Building the Enduring Enterprise Paperback – Bargain Price, May, 2000
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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.
From Library Journal
Copyright 1999 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
More About the Author
He is the founder of the High Resolves Initiative, a community service project around global citizenship, which has reached over 10,000 high school students. Mehrdad is a Henry Crown Fellow at the Aspen Institute. Mehrdad received a B.S.E. with highest honours in electrical engineering and computer science from Princeton University, where he also completed a joint degree on public policy at the Woodrow Wilson School. He continued his education in public policy at Harvard where he completed an M.P.P. as a Kennedy Fellow at the Kennedy School of Government and a J.D. with high honours at Harvard Law School.
Top Customer Reviews
As you would expect of a book out of the McKinsey stable, this is on an issue of importance to business, is well researched and analysed and very readable and well presented. As you would also expect, it is focused on large corporates, and on strategies for their business success, as measured by exceptional growth and returns to stockholders.
It provides one important perspective on the issue of corporate growth and development, to be compared with other perspectives.
There are obvious comparisons with Collins & Porras: 'Built to Last' both in the concern with continuing exceptional performance over an extended period and in the care taken to explain the research base from which the findings are derived. However, whereas Collins & Porras are concerned primarily with values and culture, Baghai et al are primarily interested in strategies for the selection, development and management of a portfolio of businesses and the implications of those strategies for structuring, staffing and operations.
The fundamental thesis is simple and can be stated in a few propositions:
The companies that have been successful in maintaining high rates of growth with superior profitability are those that have learnt to manage well to three different time horizons at the same time - today's business, the next generation of emerging businesses, and the longer term options out of which the next generation of businesses will arise.Read more ›
Make a nice short read in the bookstore cafe but it won't last more than a cup or two.
Here's a chapter's worth - manage three growth time-horizons simultaneously. I just saved you a cup.
However, the content IS important and useful.
The book is a quick read (almost comically quick, given the price) and mercifully low on buzz words. Right now, I don't see the appendix as being particularly useful, but I may find it more so later. Annotating the bibliography would have added a lot of value.
By building growth into a business plan, the authors explain a method that will call for practical growth and help to build an enduring enterprise. Regardless of the size of a business, by following the authors' advice of managing across three "horizons" at once, the company will grow successfully and, most importantly, sustain that growth.
These three horizons reflect the company's present, short-term future, and long-term future. One must be able to manage these three horizons effectively by:
· defending and growing core businesses
· building up new core businesses for the future
· planting the seeds that may become potential businesses for the long term.
The authors point out that managing all three of these is no easy task. There will be areas where the priorities and requirements for these three horizons will conflict. This book will help leaders manage through these conflicts.
They will also learn how to:
· overcome a company's inertia
· build momentum for and through growth
· sustain growth
Most Recent Customer Reviews
Certainly a good read. Although management consultants help company management navigate the issues companies face or help them evolve, but I would love to read more data-driven... Read morePublished 5 months ago by gulatin2
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 20 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
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