Success Strategies for Businesses that Perform Poorly

Failing industries, poor business performance, and lagging productivity are among the problems confronting today's management. Remedies such as revitalization, rejuvenation, and innovation are beginning to replace the conventional wisdom of paring down operations and disposing of assets. However, few studies have dealt comprehensively with what strategies are effective. The author shows that strategies' effectiveness depends on the firm's objective—growth or profitability—and that it is contingent upon the competitive characteristics of the industry and the strategic posture of the business.