What is a growth ambition?
Growth ambition describes a gap between current performance and an opportunity in the marketplace. Imagine the business is performing well against its stated goals, yet you and or others sense an opportunity in the market to capture. A growth ambition, also known as an opportunity gap, reflects the gap between an ambition and current reality. We recommend quantifying the ambition (how much growth, what kind of growth) and making it time-bound (how much time will it take to achieve success).
Why is having growth ambition important for leaders within a corporation?
Stating a clearly defined growth ambition is a way to create focus for investment and aligning resources to achieve the growth. The growth ambition becomes a “rallying cry” when communicating the opportunity to others. It creates a sense of urgency.
The growth ambition is a way to communicate the innovation ambition to the C-suite and Board. It defines a stretch target that is beyond incremental growth.