Leading at the Speed of Growth Continuous Growth, Avimanyu (Avi) Datta Doctoral Candidate, College of Business Washington State University,

Continious Growth Reinventions in the company. Successful firms reinvent themselves. Eg. IBM, HP, starbucks, Amazon, Intel, Apple Complex organization Alliances, mergers, IPO Continuous Growth Widespread acceptance of its products Gain Significant share in its market Try to be a market leader New Hires challenge in integrating them Rapid Growth Sales Driven New or different Product launch to capture market Fast faced, flexible, chaotic and Aggressive Initial Growth Figuring out what products or Services to offer Startup

Company Goal Dominate the Industry Jump to the Next Curve Move to a whole new level of success by changing the growth strategy and reinventing how the company operates. Expand to new markets and grow niches in current market. Add product and services to provide “total solutions” to customers. Brand company and its people as thought leaders Jack Welch of GE, Groove of Intel, Bill Gates, Larry Ellison, Steve Jobs

Strategies to reach those goals New Product Development Alliances Mergers and Acquisitions Spinning off a subsidiary (may cannibalize core business) Significant funding with an IPO and or Corporate partnerships

Company Characteristics Organization has grown significantly and has the potential to be an industry leader. Competitive threats, customer demands, and technology changes pose ever more complicated challenges. The company has outgrown its plan and infrastructure. The company is executing or considering, new growth strategies: acquisitions, alliances, IPOS, spinoffs, new product lines, etc.

Red flags As you spend more and more time outside the company (alliances, networks, partners), you worry about the management teams ability to run the company without you. You need to solve much more complex problems. Too much turbulence. Wonder if you need a Chief Operations Officer (COO)? Having a hard time convincing employees the urgency of the demands for fundamental change, growth strategy etc.

Red flags Essential for the company to change against the risk of too much of chaos if changes are implemented. Feeling that despite your efforts to communicate, mangers don’t get the decisions. People accuse you of micromanaging Keeping entrepreneurial culture is impossible . Trusted people are leaving the company

Dangers if you don’t change Company will start to spin its wheels and lose focus on the big picture New Competition will erode your market share; revenue and profit will fall. Crisis Mode

Key leadership Roles Dominate the Industry Continuous Growth Change Catalyst/ Organization Builder/ Strategic Innovator Turbulence Rapid Growth Lead the Market Team Builder/ Coach / planner/ Communicator Turbulence Initial Growth Drive Sales Delegator/ Direction setter Develop product Startup Doer/ Decision Maker

Critical Responsibilities Recognize the need for fundamental change and proactively lead the discovery and implementation of strategic plan for achieving new growth. Develop the executive team so that each member becomes a company leader; empower the team run day-to-day operations while you focus on the strategic issues.

Critical Responsibilities Establish a network of teams for bottom-up planning and operations. Provide the company with an objective, expanded view of the external environment. Find and develop high-level partnership and relationship to leverage for growth. Use a written set of core values to guide everyone’s behavior; devise reward and recognition to reinforce these values. Establish systematic processes to consistently promote the 7Cs of culture

7 Cs of Culture Customer and Market Focus Making sure everyone fully understands customer requirements and meets its current and future needs. Also predict future needs accurately. Communication Consistent two-way channel, across the organization. Make sure everyone knows what is expected of him/her. Everyone has enough information to make good decisions. Collaboration Coordinate both functional and cross-functional teams and work effectively to accomplish mutual goals, solve problems, and move the company toward its vision. Creativity Continually tap people’s brainpower with systematic methods for defending new opportunities and problems; challenge established practices; manage and develop ideas; and generate fresh innovative viable solutions.

7 Cs of Culture…Contd Continuous Learning Use Knowledge, information, experiences and feedback to build skills and increase the effectiveness of individual and corporate performance Change Management Anticipate and use change for gain; encourage experimentation and create change Constructive Leadership Require the CEO and all managers to align people and decisions and mission and goal, develop talent, build relationships and motivate for maximum performance.

Personal Changes to make in your leadership role Spend all your time working on the big picture, not the day to aspect of the business. Step out of operations, create networks with other firms. Strategy is the main focus. Hold you team accountable for sharing strategic leadership with you.

Personal Changes to make in your leadership role Push for the continual reinvention and periodic planning and reorganization required for new growth Redefine and constantly develop the culture that will attract and retain the best performance.

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