Real Growth in Today’s Economy

By Larry White

One important aspect of profitability is the need for growth.   You can improve profitability through optimization, but without revenue growth, there is a limit.    Logically, then every company needs to think about growth.  In today’s economy, the pace of change alone requires organizations to grow and innovate in new directions simply to stay where they are.

PACE has provided insights into Revenue Management which provide tools for exploring your markets and adapting operations to grow.  PACE has provided insight into Cost Management and Modeling to provide the tools to look at all organizational operations causally and realistically.  PACE has expanded the concept of Investment in productive capabilities and resources to include Intangible Assets that are the primary growth engine of today’s economy.  

In exploring these ideas further, I discovered an organization called, The Institute for Real Growth (IRG), and some models they have created around the characteristics organizations need to grow today.  The IRG is funded by the largest tech companies, and it has partnered with the ACCA, the world’s largest accounting organization (from the UK), on its most recent study, called the Impact Study.  The study is on driving more “humanized” growth, recognizing that humans drive growth; I am not sure the complete study is finished or has been published.  I find it reassuring to see that an organization with the stature of ACCA is finding the same perspective as PACE important to the future of accounting.

The Impact study used the diagram at the top of the article and includes the following steps.  More information is available on instituteforrealgrowth.com.

• GROUND: Human-first stakeholder understanding, engagement and representation

• REIMAGINE: Future backwards vision and aspiring company role

• FOCUS: Holistic strategy with transformative change areas

• ORGANIZE: Fostering interdependence and collaboration across ecosystem

• UNLEASH: Role modeling Da Vinci Humanized Growth leadership

The link to the Impact Study overview is: IRG-Impact-Study-Presentation-Summary.pdf (instituteforrealgrowth.com)

The IRG got its start in marketing, but sees the need to expand throughout the organization.  I liken this to PACE that got its start in accounting and finance and sees the need to expand its influence throughout the organization.

I hope you find this information useful in expanding your influence across the organization.