The Growth Imperative

摘要

FOR MANY COMPANIES "GROWTH" IS a primary cor- porate objective. The parameters by which growth is measured may vary (shareholder value, earnings per share, profits, and sales are all popular), but the aspir- ation to grow rapidly is widespread. Yet the pursuit of growth, especially in mature markets, can be dangerous, leading to over ambitions investments that fail to pay back and reckless acquisitions that destroy value.