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Grow: How Ideals Power Growth and Profit at the World's Greatest Companiesby Jim Stengel
Synopses & Reviews
Ten years of research uncover the secret source of growth and profit …
Those who center their business on improving people’s lives have a growth rate triple that of competitors and outperform the market by a huge margin. They dominate their categories, create new categories and maximize profit in the long term.
Pulling from a unique ten year growth study involving 50,000 brands, Jim Stengel shows how the world's 50 best businesses—as diverse as Method, Red Bull, Lindt, Petrobras, Samsung, Discovery Communications, Visa, Zappos, and Innocent—have a cause and effect relationship between financial performance and their ability to connect with fundamental human emotions, hopes, values and greater purposes. In fact, over the 2000s an investment in these companies—“The Stengel 50”—would have been 400 percent more profitable than an investment in the S&P 500.
Grow is based on unprecedented empirical research, inspired (when Stengel was Global Marketing Officer of Procter & Gamble) by a study of companies growing faster than P&G. After leaving P&G in 2008, Stengel designed a new study, in collaboration with global research firm Millward Brown Optimor. This study tracked the connection over a ten year period between financial performance and customer engagement, loyalty and advocacy.
Then, in a further investigation of what goes on in the “black box” of the consumer’s mind, Stengel and his team tapped into neuroscience research to look at customer engagement and measure subconscious attitudes to determine whether the top businesses in the Stengel Study were more associated with higher ideals than were others.
Grow thus deftly blends timeless truths about human behavior and values into an action framework – how you discover, build, communicate, deliver and evaluate your ideal. Through colorful stories drawn from his fascinating personal experiences and “deep dives” that bring out the true reasons for such successes as the Pampers, HP, Discovery Channel, Jack Daniels and Zappos, Grow unlocks the code for twenty-first century business success.
"Profit and ethical behavior need not stand in opposition, argues management consultant Stengel; in fact, maximum growth and high ideals are inseparable. Companies with ideals of improving people's lives at the center of all they do outperform the market by a huge margin. During his time at Procter & Gamble, he conceived and executed the Stengel Study of Business Growth, a 10-year-growth survey of more than 50,000 businesses around the world. The study identified 50 brands with extraordinary growth: retailers, luxury brands, and high-technology enterprises. His analysis suggests that those companies' ideals have positively influenced their success — that they have a brand ideal, a shared goal of improving people's lives. To back this up, he presents stories from his own career and also case studies of such strong brands as Method, Jack Daniels, and Zappos. He presents 'must-dos' for companies hoping to turn their ideals into gold. While his points are solid and it's comforting to know that there's a connection between a company's desire to improve people's lives and their bottom line, the real content is slim and repetitive." Publishers Weekly Copyright PWxyz, LLC. All rights reserved.
About the Author
As Global Marketing Officer from 2001 to 2008, Jim Stengel led the effort to leverage higher ideals in brands throughout Procter & Gamble. Since 2008 he has been CEO of The Jim Stengel Company, a think tank and consultancy conducting proprietary research, generating thought leadership and applying his ideals-driven framework to drive business growth. He is also an adjunct professor at the UCLA Anderson School of Management, and serves on the boards of directors of Motorola Mobility and AOL Jim has published in Harvard Business Review and was recently named to Fortune magazine’s First Executive Dream Team. Jim and his wife Kathleen live in Cincinnati, Ohio and Coronado, California.
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