Two companies may face the same market opportunity, have equally attractive market propositions and the same winning strategy, but while one succeeds the other fails. Why? Well, there can be many reasons. However, most have something to do with the mindset of the management and team.
The organizational mindset determines, for example; whether a company recognizes a new opening in the market, spots the threat posed by a new competitor or believes that it can or should drive for improvement, innovation or growth. The attitudes and expectations of the team are the filter through while all opportunities and challenges must pass.
The attitudes, beliefs, hopes, fears and expectations of the manager has a major impact on the success of any strategy to exploit any market opportunity. Indeed, what is going on in people’s heads can have as much a bearing on performance as what is going on out in the marketplace.
The implication for managers who want to drive growth is clear:
What goes on in the heads of managers and their teams matters. However the question about growth mindset is rarely asked in management books, or conference papers:
If growth is as much about mindset as it is about strategy, then this has real implications for the approach required to accelerate growth. That is because the requirements of engaging strategy versus engaging the mindset that created or shapes it are very different. Here is how the traditional approach to setting and reviewing strategy fall short:
The traditional linear, analytical and numbers driven approach to setting or reviewing strategy, falls short of engaging with, revealing or indeed challenging the growth mindset of a manager, organization or team. More is required:
The implications are to be seen everywhere. They are strategies that fail to get implemented and change that does not happen.
In order to ensure an approach to growth that is successful and sustained the pitstop addresses the two dimensions in tandem: