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A small business can use the Power Curve concept for its growth by identifying its most promising business unit and allocating resources to it for breakout growth. The Power Curve shows that a significant portion of companies remain in the same position over a ten-year period. However, among those that moved up, it was often due to one business unit creating the breakout. Therefore, correctly identifying this business unit and providing it with the necessary resources can help a small business move up the Power Curve and achieve growth.
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The Power Curve is sticky. The odds of a company moving from the middle to the top quintile over ten years is just 8% percent. 78% of firms in the middle quintiles, 59% of those in the top quintile, and 43% of firms in the bottom quintile remained at the same position ten years later. Among 101 companies that moved up a quintile, two-thirds of the time it was due to just one business unit creating the breakout. Correctly identifying that business unit and feeding it the resources it needs for breakout growth can determine your organization's progress on the Power Curve. Bringing probabilities to the table can lead to a more realistic evaluation of risks and better decision-making.
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McKinsey & Co. partners wrote this book. How do you effectively turn the promises of strategy meetings into reality? How can you manage social dynamic...
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