In this book, Rita McGrath and Ian MacMillan show how your company can achieve ambitious growth targets without hugely expensive and uncontrolled gambles.The techniques presented are appropriate for new growth initiatives: new ventures, new businesses, new product lines, new franchises, new locations, new markets, joint ventures, strategic alliances, and even potential mergers.
One of the framework given in the book is Opportunity Portfolio, a visual map of major initiatives going on in the firm. It looks at initiatives in the context of uncertainty , market and organizational uncertainty Vs Technical and execution uncertainty.Core enhancement launches characterized by low uncertainty on both parameters are projects that improve the profit streams and growth of the core business.Investments in improving operational efficiency ,upgrades in IT, supply chain etc fall in this category. At medium level of uncertainty we have Platform launches and Adjacency, requiring substantial investments to establish firm on new growth area on scale. Positional options are minor investments to develop options for future.Scouting options on the other hand deal with market uncertainties. Stepping stones are projects with high uncertainty both in technology and market.
The book if full of practical steps on corporate venturing.