The coauthor of the international bestseller Execution has created the how-to guide for solving today’s toughest business challenge: creating profitable growth that is organic, differentiated, and sustainable.
For many, growth is about “home runs”—the big bold idea, the next new thing, the product that will revolutionize the marketplace. While obviously attractive and lucrative, home runs don’t happen every day and frequently come in cycles.
Products like Kevlar, Teflon, and the Dell business model for selling personal computers may be once-in-a-decade phenomena. A surer and more consistent path to profitable revenue growth is through “singles and doubles”—small day-to-day wins and adaptation to changes in the marketplace that build the foundation for substantially increasing revenues. The impact of singles and doubles can be huge. They are not only the basis for sustained revenue growth but, in fact, the foundation for home runs. Singles and doubles provide the discipline of execution, an absolute necessity for successfully bringing a breakthrough technology to market or implementing a new business model.
Inherent in this way of thinking is the revolutionary idea that growth is everyone’s business—not solely the concern of the sales force or top management. Just as everyone participates in cost reduction, so must everyone be engaged in the growth agenda of the business. Every contact of each employee with a customer is an opportunity for revenue growth. That includes everyone from the people working in a company’s call center handling customer inquiries and complaints to the CEO.
In this trailblazing book, Ram Charan provides the building blocks and tools that can put a business on the path to sustained, profitable growth. For more than twenty-five years, Ram Charan has been working day in and day out with companies around the world. The ideas he has developed for solving the profitable revenue growth dilemma facing many businesses are based on personally seeing what works in real time. These are ideas that have been tested across industries and that deliver results, and they can be put to use starting Monday morning.
From the Hardcover edition.
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|Title of History eBook: Profitable Growth Is Everyone's Business|
|Release Date: 01-20-2004|
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|Publisher: Crown Publishing Group|
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Profitable Growth Is Everyone's Business
The Challenge of Profitable Revenue Growth
GROWTH IS the elusive goal at the top of everyone's agenda.
There are three reasons why it's proving difficult to achieve.
First, the balance has gone too far in the direction of cost-cutting at the expense of revenue growth. More thought and time have been given to tools like Six Sigma and actions like restructuring, achieving size through acquisition, and looking for opportunities to consolidate in an industry undergoing upheaval than to revenue growth.
Second, when most managers do think about growth, it is in terms of home runs-the disruptive technology, the new revolutionary business model, the mega-merger-instead of the singles and doubles that, when executed at a steady pace, cumulatively can increase revenues substantially.
Third, improving productivity and increasing revenues are seen as two separate issues, when they are, in fact, inseparable for long-term success. If managers concentrate only on raising productivity, they are doing only half their job.
Improving productivity means that a business finds a better way to do something that results in the enhancement of its competitive position and/or the creation of new opportunity, while at the same time producing funding that can fuel its growth. In contrast, sporadic, deep cost-cutting-downsizing, closing plants, across-the-board budget cuts-are one-shot reductions (often without attention to the consequences for revenue growth) that do not result in doing things in a better way. Cost-reduction campaigns are largely a result of the lack of discipline of productivity improvement on a long-term consistent basis. When employees experience these