The decay of rules-based trade means that companies can no longer find growth as easily by expanding to new locations, or expanding demand through low-cost single point sourcing. In this context, companies seeking growth must develop innovative offerings to expand demand.
These offerings are, essentially, products of imagination — conceiving of and realizing new possibilities — a challenge that companies struggle with. In this article, the authors present a six step-cycle that is at the foundation of a corporate “imagination machine.
Over a 10-year horizon, nearly three-quarters of TSR are driven by sales growth.Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Innovation and Creativity. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.Accelerate your career with Harvard ManageMentor®.
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