LEADING THE CREATION OF A TOTALLY NEW PRODUCT OR SERVICE CATEGORY REQUIRED: NO-NONSENSE SPONSORS TO STEER THE NEW VENTURE1
Sponsor: A person or an organization that pays for or plans and carries out a project or activity. No-nonsense: Serious, businesslike, a ‘no-nonsense manager.’
Merriam-Webster online dictionary
Large companies in mature markets - think of Nestlé, Kraft and Unilever in the food industry - are confronted with a growth dilemma. They feel mandated by financial investors to grow at a faster rate than their snail-paced market; yet, they know that their options are limited. Sound acquisitions are becoming increasingly hard to find and very expensive, and hence financially burdensome. Geographical market expansion, a ...