Business Innovation | The 3 Horizons of Growth

When it comes to business innovation and growth, projects can be difficult organise and structure. Get your downloadable guide to the Three Horizons here: https://grow.ac/businessinnovation

We’ve adapted McKinsey's ‘Three Horizons of Growth’ to create our own innovation resource to help us to align business innovation with business growth and manage our product portfolios!

Product portfolios are pretty tricky to manage. Alongside the core business, you’ll likely be testing alternative business models, revenue models, new products, experiments and even whole new businesses, while ensuring and developing product market fit. So how do you keep track of all of these proposals?

The Three Horizons of Innovation and Growth help to classify these projects and products in a sensible way that looks at the long, medium and short term needs. When it comes to product innovation, you’ll need to balance the potential pay off of an idea with the level of risk that that project will involve.

By using three horizons, you can establish which products are your core business offerings, which are adjacent offerings, and which are huge, potentially market-disrupting ideas, and decide how to balance your resources between them to maximise and optimise business innovation and encourage company growth.

At Growth Tribe, we work with an “innovate or die” mentality, designed to keep us on our toes and ahead of the curve.

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Видео Business Innovation | The 3 Horizons of Growth канала Growth Tribe