Discovery-driven growth is an approach to developing new businesses that deliberately contains risk while allowing firms to grab opportunities. It’s a very step-by-step approach to growing into new areas of development, whether that’s increasing revenue by expanding an existing venture or starting from scratch. Unlike the conventional planning process, in which managers are expected to have a lot of knowledge, discovery-driven growth recognizes that in a new venture it’s better for managers to learn along the way.
Value — how much importance or worth people place on any given thing — is a big idea packed into a small word. But to get at where value comes from, says Professor E. Tory Higgins, value must not be thought of exclusively as a positive thing. Higgins, who has spent much of his career considering questions related to motivation, investigates the origin of value not by focusing on where it comes from, but instead by asking, “What is it that makes something valuable — whether positively, so that you are attracted to it, or negatively, so that you are repelled by it?”