The Growth Gamble: When Leaders Should Bet Big On New Business And How They Can Avoid Expensive Failures by Andrew Campbell
Publisher: Nicholas Brealey Publishing (June 6, 2005) | 1904838049 | 339Pages | PDF | 2.77MB
The received wisdom is to try harder, to be more innovative, to take more risk - and almost every company tries. There are only a tiny percentage of management teams who settle for sticking to their core businesses and declining gracefully as the business matures. But the received wisdom is wrong. At least 90% of attempts fail. Even companies that succeed often do so at the expense of long term shareholder value. This book gives managers an alternative. Instead of investing heavily in searching for and experimenting with new growth areas, in developing an innovative culture or in building processes for nurturing new ventures, Campbell advises managers how to be far more selective and to invest in a new business only when the opportunity has a high enough probability of success. A nuts-and-bolts antidote to the received wisdom of "innovation" and a decade of wasted acquisitions and "corporate venturing." The Growth Gamble explains why most companies’ strategies for innovation and growth failed despite the fact that their core business had good prospects.