Selecting a Master Strategy

What strategy should top management pursue to enhance the value of the firm or, more specifically, the wealth of the owners or shareholders? This is a perplexing question in light of the many alternative actions being touted by business soothsayers. Consequently, top management is confronted by a variety of competing strategic choices, each presenting an apparently outstanding opportunity for the firm. Invariably, though, more questions than answers are generated in the quest for the corporate Holy Grail.