This question has come up in a few McKinsey cases, and I find myself always giving generic, non-industry specific suggestions. I think I don't fully grasp the scope of what this term entails - would anyone be able to provide a few suggestions within a particular industry?
Can you give me a few examples of "drivers of growth" within context?
I use the following framework based on stakeholders to identify and communicate drivers of growth (let's say for the pharmaceutical industry):
- Increase in per capita income resulting in more spending
- Rise in lifestyle disease
- Move to preventive rather than curative methods
- Affordable insurance plans
- New treatment techniques
- Major R&D breakthrough
- Introduction of generic drugs
- State-sponsored Medicare plans
- Subsidy to a certain sub-sector
You can tailor it as per the industry you're discussing. Experts can obviously add more or provide a better framework than this :)
There is a number of industry-specific ones like ARPU or Revenue per sqm. I recommend downloading the annual reports for investors of the top companies in each industry (retail, cpg, banking, etc) and check the metrics / drivers / KPIs they are using. It will answer all your questions.
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