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Escape Velocity: Free Your Company's Future from the Pull of the Past Hardcover – 5 Oct 2011
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“A pragmatic framework to help mature enterprises escape the pull of their pasts and embrace the new reality of work.” (John Chen, CEO, Sybase)
From the Back Cover
From the world’s leading high-tech strategist comes the definitive road map to help established companies create next-generation growth.
Geoffrey Moore’s now-classic Crossing the Chasm became a must-read book by presenting an innovative framework to address the make-or-break obstacle facing all high-tech companies: how to gain market share from early adopters and from mainstream consumers.
Based on twenty years’ experience advising the top leaders of many of the world’s most successful enterprises, Moore’s Escape Velocity offers a pragmatic plan to engage the most critical challenge that established enterprises face in the twenty-first-century economy: how to move beyond past success and drive next-generation growth from new lines of business.
As he worked with senior management teams, Moore repeatedly found that executives were trapped by short-term performance-based compensation schemes. The result was critical decision-makers overweighting their legacy commitments, an embarrassingly low success rate in new-product launches, and a widespread failure to sustain any kind of next-generation business at scale.
In Escape Velocity, Moore presents a cogent strategy for generating future growth within an established enterprise. Organized around a hierarchy of powers—category power, company power, market power, offer power, and execution power—this insightful work shows how each level of power can be orchestrated to achieve overall success. Moore explains
- how to use mergers and acquisitions as well as organic innovation to systematically migrate an enterprise’s portfolio out of lower-growth and into higher-growth categories;
- how to reallocate resources across an enterprise in deliberately asymmetrical ways to create a powerful and sustainable foundation for a long-term competitive advantage;
- how to leverage target-market initiatives as accelerants to growth and as stepping-stones to broad overall category success;
- how to create unmatchable offerings by being swift to neutralize competitors’ innovations and laser-focused on driving in-house innovations to make a business impervious to competitors;
- how to fundamentally change the execution cadence of an organization, pushing change from innovation to broad deployment, creating an irreversible tipping point along the way.
Drawing from thousands of hours spent face-to-face with CEOs and their teams, Moore presents case examples and best practices. While his experience is deeply rooted in the high-tech sector, his models and techniques apply well beyond this arena, including to the public sector.
At a time when the world is looking to established enterprises for growth and stability, Moore’s analysis is penetrating and his prescriptions are right on the mark. Escape Velocity gives executives and their teams a practical way forward to take advantage of the opportunities amid industry and economic disruptions.See all Product description
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One especially significant result of that organizational vulnerability is that it precludes exposure to what Moore characterizes as "secular market change." That is, a "not to be repeated" expansion of the market that occurs whenever a new category or a new class of customers is brought on board. That expansion "stands in contrast to [begin italics] cyclical growth [end italics], which refers to the ongoing returns from an established market, one in which the customers and the category remain the same and power shuttles here and there among various vendors and their latest offers. The key point here is, you can make a mistake with cyclical growth and still have plenty of chances to get yourself back in the game. That is not the case, however, with secular change. Missing out on the opportunities it offers "is a disaster."
Those who have read one or more of Moore's previous books already know that he is a visionary pragmatist with exceptional analytical and writing skills. I think that Escape Velocity will prove to be his most important book thus far, given the timing of its appearance during an extended period of economic turbulence and organizational disruption. I agree with him that leaders must ask the right questions (please see Pages 10-11) and then obtain the correct answers to them. In order to free themselves and their organization from - and then remain free of -- the "pull of the past," they must formulate and then execute an escape-velocity strategy. How? Focus on three separate but interdependent initiatives:
1. Innovate sufficiently to achieve competitive separation in the domain of invention.
2. Institutionalize what achieves the separation so it can be scaled and sustain in the domain of deployment.
3. Drive the transition from invention to deployment to a tipping point "such that the world will go forward as newly aligned and not fall back into its old ways."
Throughout his lively and eloquent narrative, Moore explains how to create, apply, and sustain four types of power and devotes a separate chapter to each: Category (i.e. reengineering portfolio management), Company (i.e. making asymmetrical bets), Market (i.e. capitalizing on markets in transition), Offer (i.e. breaking the ties that bind), and Execution (i.e. engineering the escape). It should be noted that, in the Introduction, Moore duly notes that under certain conditions, an established player's standard operating procedure (e.g. operational gains from mature markets), "does not result, in and of itself, in bad economic results." However, a key point, the "players" (be they new or established) do not sink "into a fixed legacy position." Each adopted one or more of the 13 different models or frameworks that, Moore points out, are "nestled inside one or another level in the Hierarchy of Powers" he thoroughly examines in Chapters 2-6 and then reviews in the final chapter.
In my opinion, this is one of the most important business books published in recent years and its relevance will increase exponentially for years to come. Bravo!
A practitioners book - fixing joining up strategy with execution - done in a way that allows innovation to flourish
Ever grappled with actually trying to implement any of Porters strategies or Balanced scorecards or had budgets thrust upon you to sort out super quick for next year calling for growth just based upon a factor of last years results?
Brand new frameworks and approaches that are not taught at Business School (MBA), perhaps they should be....
Highlights for me : The hierarchy of powers, material to growth matrices, core/context models
My head hurt in the last couple of chapters as Moore unleashed his thinking...
When I sat down and applied it to my job it gave new insight that I couldn't have gained by just abstracting myself - not enough time to do it.
So Moore gives you a shortcut.........
Well worth going back over the frameworks to embed them as the need arises - a permanent place in my kindle just for that reason
Combine it with Outcome Driven Innovation and Lean Start-up approaches too.....
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