Creativity is the key: Creative thinking and forward planning are essential in the development of new growth platforms (NGPs)

Abstract

Purpose

Reviews the latest management developments across the globe and pinpoints practical implications from cutting‐edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

Every year Fortune magazine lists the 500 most successful corporations in the USA. The elite of the elite are listed in Fortune's top 50 and these represent the most profitable companies of the year. On average companies demonstrate a 29 percent increase in growth in the year of their election. The interesting thing is what happens to them afterwards. According to the Harvard Business Review (May 2006) 93 percent of these firms never average more than 2 percent annual growth again! From 29 percent to 2 percent is a sharp drop. What is it about corporate growth that is so hard to sustain? And if it is so difficult for the big players to maintain, does the little guy (or girl) have any hope?

Practical implications

Provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.

Citation

(2007), "Creativity is the key: Creative thinking and forward planning are essential in the development of new growth platforms (NGPs)", Strategic Direction, Vol. 23 No. 5, pp. 14-16. https://doi.org/10.1108/02580540710743068