(Videocast with Transcript)
Discovery-driven Growth: The Only Plan Is to Learn as You Go
For companies planning to launch new initiatives during uncertain times, it's important "to know from the start that the plan is wrong," according to Ian MacMillan, Wharton professor of innovation and entrepreneurship. Assumptions are what get most companies into trouble, MacMillan and co-author Rita Gunther McGrath, a professor at Columbia Business School, argue in their new book, Discovery-Driven Growth: A Breakthrough Process to Reduce Risk and Seize Opportunity. In an interview with Knowledge@Wharton, McGrath and MacMillan describe how firms can make the most of new opportunities, even during the current downturn.