Theory in Action: Making Strategy Work

Al “Chainsaw” Dunlap's recent announcement of a 50% job cut at Sunbeam aside, “growth” has replaced “downsizing” as the dominant strategic focus throughout American business. Mergers and acquisitions, new market penetration, mass customization, enhanced customer service, strategic alliances, and the like are all in the sights of businesses large and small. But while activities focused on the cost side of the profit equation represent a relatively simple “strategy” to pursue—thanks to armies of consultants churning out graphs, charts, and tables recommending head cuts—growth strategies present management with an even greater challenge: how to make their strategies work.