Building a Growth Factory. David S. Duncan

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      In an effort to make the book as practical as possible, each of the specific elements that follow includes implementation tips, specific questions to help leaders assess their own performance, warning signs that indicate potential trouble, and further reading. The introduction to each of the four components includes the relevant portion of the growth factory assessment to help readers visualize what strong performance looks like.

      P&G and Citi

      P&G and Citi are the two examples that we’ll draw on most extensively. Despite their long histories, they had (and have) significant challenges to overcome.

TABLE 1: Growth Factory Assessment

Component	Element	Requires attention	On the way	Desired state
Growth blueprint		Growth types	No definition of growth types	Defined growth types, at least one of which is noncore; nonspecific classification criterion	Defined growth types with simple, agreed-upon classification criteria
		Growth goals and guidelines	No clear vision	Directional vision lacking key specifics	Codified and shared growth targets with detailed on- and off-the-table strategic options
Productionsystems		Robust innovation processes	Innovation treated randomly	Innovation process defined, occasionally followed	Robust, learning-based process to conceive of and commercialize ideas routinely followed
		Idea supply chain	No systematic mechanisms to source innovative ideas	Mechanisms to source internal or external ideas	Mechanisms to source internal and external ideas at or beyond the fringes of the company and industry
		New-growth groups	No safe spaces for incubation	Informal mechanisms to shelter new ideas	Formal mechanisms serve as safe spaces for new ideas
		Little bets labs	No mechanism to design and execute strategic learning experiments	Mechanism to run single-variable experiments (e.g., product prototype)	Structured ways to rapidly and affordably run multivariable experiments (e.g., transaction test)
		M&A and partnership engines	No formal approach to acquisitions or partnerships	Acquisitions and partnerships occasionally made and in an ad hoc way	Robust process to acquire and partner with promising ventures
Governanceand controls		Idea governance systems	No disciplined approach to manage innovation	A single process to manage all types of ideas	Distinct measurement and management approaches for different types of ideas
		Portfolio tracking systems	No tracking system	Ad hoc tracking system	Formal systems produce regular snapshot report that is the basis of leadership discussion
		Resource allocation systems	“Find it when we need it” mentality	Dedicated pool of human and financial resources for innovation, with allocations reviewed episodically	Dedicated pool of human and financial resources for innovation, with allocations reviewed regularly
		Continuous improvement systems	No continuous improvement systems	Occasional SWAT teams to address identified issues	Individual or small team that “innovates the innovation systems”—specifically spotting and removing bottlenecks
Leadership, talent,and culture		Lean-forward leaders	No role modeling by leaders	Desired cultural changes identified; inconsistent role modeling by leaders	Leaders regularly role-model desired behaviors and intervene to shape the corporate culture
		Innovation talent	Growth efforts led by “usual suspects”	Identified talent plan with detailed description of desired language and skills	Established, skilled team supported by enabling language
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