Venture Catalyst: The Five Strategies for Explosive Corporate Growth. (Bookshelf).

Donald L. Laurie. Perseus Publishing, 267 pages. $27.50.

Explosive growth? That's probably not what most executives expect in this environment, even if the idea is alluring. But Donald Laurie, chairman of management consulting firm Oyster International, has more than a few pearls of wisdom to share about how leading companies have prospered by eschewing cautious, organic growth.

Laurie's strategies, which he outlines early on, aren't startling. To get the 'next great business," he writes, companies need to do one of five things: invent it, invest in it, "venture" it (ally with venture capital firms), set up a partnership for it, or acquire and integrate it. These strategies don't have to be mutually exclusive. "Analysis of the five paths and the organizations that have chosen to follow them reveals that most successful venture catalysts experiment with or follow two or more directions simultaneously," he writes.

A host of "mindset" issues often keep big companies from capitalizing on some of these new ideas, Laurie argues. Among them: management of the venture-building business is fundamentally different from delivering an annual operating plan; new ventures and big companies have dramatically different perceptions of speed; and the entrepreneurial mindset is different from the corporate one. But it can be done, Laurie says, using examples like Corning Inc., Johnson & Johnson and General Electric Co. With highly readable prose and minimal embellishment, Laurie makes a very effective case for venturing outside the box.