Glossary • Transformational Growth
What it means:
Transformational Growth is the reorientation of a business, steering into a new direction which is usually very different to past incarnations of the organisation.
Big changes that require higher resources and change the company’s portfolio and business activities, is seen as transformational growth. Product expansion, exploring new markets and introducing new product categories are examples of transformational growth within a business.
According to research by Fortune, “the best companies tilt their innovation portfolios away from incremental initiatives and toward breakthrough and transformational projects.”