Growth—it was important for the companies that were part
of the nineteenth-century industrial revolution. The new
technology of mass production enabled it. The robber barons
thrived on it as they stretched their rail lines, their oil exploration,
their banking empires. In this, the third century of the
modern corporation, growth is still the mantra and mission of
every company. Visit a company web site. Attend an annual meeting
or listen to a securities analyst. Read an annual report or a
corporate history. The company’s past and future growth is a fundamental
topic.
Growth is not a buzzword. Nor is it a new management technique.
That lack of newness makes it no less important for
every company. The strategy and tactics for growth may change
with every era, with changes in exogenous factors, but they are
always rooted in a combination of daredevil strategy and solid
execution.
We embarked on this book because we believe passionately
that companies in the twenty-first century have forgotten how to
grow or are too risk-averse to make it happen. Our work on two
earlier books, Winning the Merger Endgame and The Value Growers,
convinced us that much rich material about corporate growth is
embedded in A.T. Kearney’s ongoing research. So we decided to
forge ahead and uncover it. Stretch! is the result.