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The lessons from the book 'Growth IQ' can be applied in today's rapidly changing business environment by understanding and implementing the ten clear pathways to growth outlined in the book. These pathways include strategies such as co-opetition, where companies collaborate with competitors for mutual benefit, as seen in the example of BMW, Intel, and Mobileye teaming up with Fiat Chrysler to develop autonomous vehicles. This strategy allowed them to pool resources and expertise to compete in the rapidly evolving autonomous vehicle market. Other strategies include focusing on customer experience, diversification, and optimization. The key is to understand the current business environment, identify the most suitable growth strategy, and execute it effectively.
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In 2016 BMW, Intel and Mobileye teamed up to develop autonomous vehicles. They needed a mass market manufacturer, even if it was BMW's competitor. In a move unprecedented in the competitive automobile industry, they partnered with Fiat Chrysler. The rise of autonomous driving technology and the massive investments by Google, Apple and Tesla made co-opetition imperative for BMW and Fiat's survival. For Intel, it was its chance to dominate the next big chip market. The partnership aims to develop a common vehicle architecture that could be used by multiple automakers while maintaining their unique capabilities.
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How do you find the right strategy to grow your organization in a rapidly changing business environment? "Growth IQ" distills decades of tested strate...
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