Staircase approach, Mckinsey & Company, increase competitive advantage, company growth
McKinsey & Company suggest seven staircases that companies use to grow. In athletic management, improvement is constant since individuals usually join the profession with limited resources and experience, but with visions of greatness. The Athletics management firm that I work for was initially run by the founder, an accredited trainer who quit his job with the national athletics federation to venture into private business. The founder's residence doubled up as the firm's office for several months, but he eventually rented an office after getting a sizeable number of trainees.
[...] Retrieved from http://www.mckinsey.com/insights/growth/staircases_to_growth Gulati, R., Freeman, K.W., Nolen, G., Tyson, J., Lewis, K.D., & Greifeld, R. (2004, July- August). How CEOs manage growth agendas. Harvard Business Review Hall, S. Lovallo, D. & Musters, R. (2012) How to Put Your Money Where Your Strategy Is. McKinsey Quarterly 27-38. [...]
[...] In the first step, the company secures an option based on an opportunity (Bangai, et al., 1996). This is reflected in the company where the management occasionally makes decisions to pursue opportunities in ways that would be most beneficial. For instance, when an opportunity to diversify our services by introducing students' training, we chose to focus on colleges. The decision to try getting into college students training was principally based on the demand that we identified. Following the promise of the first step, the company continually amassed skills and confidence for more steps. [...]
[...] With regard to competences, the trainers are essentially equipped with world-class techniques of training. The human capital in our organization is the most important asset that we endeavor to support through the other assets. Privileged assets in our case are in the form of physical infrastructure and training equipment. The company has built a world-class training facility that has greatly boosted its competitive advantage. The availability of superior training equipment has also provided a competitive edge. In addition, special relationships also come in handy in our athletics management business. [...]
[...] This strategy is referred to as the staircase approach, where companies make manageable steps, always increasing their competitive advantage. The staircase that my company is using to grow is ‘attracting new customers'. This is a strategy whereby the company grows by attracting new customers to the existing range of products and services in the process expanding the size of its customer segment (Bangai, et al., 1996). The nature of athletics management is that the core services that are offered to each athlete type are mostly defined. [...]
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