g-f(2)76 THE BIG PICTURE OF THE DIGITAL AGE, Bain & Company, The Engine 2 Imperative: New Business Innovation and Profitable Growth under Turbulence.

Extra-condensed knowledge

For more than two decades, our research has shown that focusing on one strong core business, constantly innovating on its repeatable model, relentlessly pushing out the boundaries of the business and achieving the economics of leadership has been the formula that has characterized more than 90% of major growth success stories. 

• But the business environment is changing in ways that increase both the need and the potential for leadership teams, even those with the strongest and most profitable core businesses, to consider investing in a second major growth engine.
• This Engine 2 can hedge against disruption of the core business, or it can take advantage of shifting business boundaries in newly accessible adjacent markets.

Genioux knowledge fact condensed as an image

Category 2: The Big Picture of the Digital Age

[genioux fact produced, deduced or extracted from Bain & Company]

Type of essential knowledge of this “genioux fact”: Essential Deduced and Extracted Knowledge (EDEK).

Type of validity of the "genioux fact". 

• Inherited from sources + Supported by the knowledge of one or more experts + Based on a research.

Authors of the genioux fact

Fernando Machuca

References

The Engine 2 Imperative: New Business Innovation and Profitable Growth under Turbulence, James Allen and Dunigan O'Keeffe, December 17, 2020, Bain & Company.

ABOUT THE AUTHORS

James Allen is a senior partner in Bain & Company's London office. He formerly led Bain's Global Strategy practice, is the founder of the firm's Customer Strategy & Marketing practice and is a member of the European Consumer Products and Technology practices. In addition, he leads Bain's Developing Market 100 initiative.

James is a recognized leading expert in developing global corporate and business unit strategy. With more than 25 years of consulting experience, he has worked extensively for multinational companies in consumer products, oil and gas, technology and telecommunications, healthcare, and other industries. He advises clients on the development of global growth strategies, emerging market entry strategies and turnaround strategies.

Dunigan O'Keeffe is the leader of our global Strategy practice, based in San Francisco. He also leads the Bain Innovation Exchange (BIE).

Dunigan has broad experience in developing growth strategies that help companies rapidly scale while building sustained competitive advantage. His work spans corporate strategy, business unit strategy and growth-led transformations, including helping companies build their next growth engines (i.e. Engine 2).  He has focused extensively on how cultivating a Founder’s Mentality is a key foundation for sustained growth.

As head of the BIE, Dunigan helps spark innovation and build businesses at the intersection of large corporations, startups, venture capitalists, and other innovators.