growth-levers

Vocabulary Word

Definition

'Growth-levers' usually refer to the different methods or ways used to drive growth or improvement in a business or project. For example, a business might use marketing, product innovation, customer service, or operational efficiency as 'growth-levers' to increase its revenue and profitability.

Examples in Different Contexts

In product development, 'growth levers' refer to features or improvements that drive user engagement and expansion. A product manager might discuss, 'Incorporating AI functionalities has been one of the major growth levers for our app.'

Practice Scenarios

Product

Scenario:

The product’s current performance isn’t meeting our targets. Maybe we need to look at our key product features and see what improvements can be made.

Response:

Enhancing user experience could be a critical growth lever. We could initiate a comprehensive review of our product features.

Tech

Scenario:

Our development cycle needs to be faster and more efficient. We should consider how we can enhance our current methodologies.

Response:

I believe shifting towards a more Agile approach could be an effective growth lever, enhancing our development cycles.