Sustaining,Innovation,Your,Org business, insurance Sustaining Innovation in Your Organization Effective Portf
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Following up with our last discussion about the challenges that facecompanies in their goal to sustain innovation and continue to move thecompany forward, we will now discuss how effectively managing yourcompanys growth portfolio will help to avoid the problems discussed inour last article. A clearly focused company growth portfolio will givethe company direction and keep all members of the team in tune, fromthe company executives, right down to the individual team members. Growth Portfolio ManagementWewill first discuss what a growth portfolio should contain. An extensivegrowth portfolio will contain a number of projects that are aimed atcost reduction, expanding into new markets, new products, and so forth.Having items such as these in your companys growth portfolio is agreat start, but the important thing to keep track of is how well eachof these projects are performing in relation to achieving yourcompanys desired business outcomes. Carefully selecting whichproject to pursue at the right moment is what separates the greatbusiness managers from the ones that ultimately fail. Choosing theright combination of projects that increase ROI, increase market share,and are ultimately sustainable is the key to successful growthportfolio management. Keeping your management and team membersfocused on the execution of the projects in your portfolio is thesecond piece of the puzzle. Ensuring that your company has a clear viewof what the business goals of the company are will allow the individualteam members to better understand where they fit into the big pictureof things. Visit us again next week when we discuss how to handle individual challenges to a successful growth campaign for your company: How to Avoid Missing the Mark.
Sustaining,Innovation,Your,Org