Growth
Define Growth
an increase in top-line performance: revenue (i.e., sales), in turn a boost to bottom-line performance: profits.
Define Innovation
a product, service, process or practice that offers significant new value in solving problems for adopters, whether they be customers, employees or other stakeholders.
Define Transformation
an intense, organization-wide program to enhance performance (an earnings improvement of 25 or more) and to boost organizational health.
Name the two types of growth and explain them.
Organic Growth vs Acquisition-driven Growth:
Organic: growth grom revenue performance of existing business operations
Acquisition: inorganic growth, revenue that comes from acquiring another company
Define social-driven innovation and an example of what social drive innovation is happening now.
Innovations driven by culture, geopolitics, or society, changes in stakeholder expectations and preferences. EX: Sustainability- natural, organic innovations
Give three examples of change managment communication processes?
Rebranding efforts
Changes in senior leadership
Mergers or acquisitions
Downsizing and workforce reductions
Name and describe the difference between the two growth cycles.
Virtuous cycle: a cycle of growth where success reinforces itself through a feedback loop, thereby driving further favorable results
Vicious cycle: a cycle of decline that self-perpetuates and is difficult to reverse, when an organization is starved for growth and experiencing decline
How long did it take telephones, televisions, and YouTube to reach a milestone of 50 million people? What is this an example of?
75, 22, 4. Moore's Law
Name the three types of transformations within a business.
Organizational transformations- (re-drawing organizational roles and accountabilities)
Strategic transformations- (changing a business model)
Digital reinventions or transformations- (an organization re-working how it is wired)