Research has identified that there are twelve components of a company’s culture that can be assessed and used to predict how “growth smart” a company is. High scores in these twelve areas have been proven to be accurate predictors of growth. However, merely scoring a company doesn’t help it become growth smart; companies need a plan and a methodology to help them achieve that status.
In developing a growth-smart plan, I like to apply Verne Harnish’s Four Decisions concept that growth can be achieved by focusing on four initiatives: develop people, improve strategy, drive execution, and maximise cash. These are the four critical tasks that leadership teams must get right in order to grow their business. A growth-smart plan considers all four and creates annual and quarterly priorities to help teams execute them.