The economic challenge for companies is more serious now than it has been at any time since 2008, when the current financial and economic crisis began. The conventional strategies of the past few years — cutting costs and seeking business in the new high-growth markets of Asia and Latin America — will no longer be effective.
Strategy& partner, Richard Rawlinson, in his recently published viewpoint: Profitable growth during the European crisis: A call to action for consumer companies argues that the best way out is to grow at a minimum investment cost: specifically, to seek opportunities for growth that are closely related to the distinctive strengths and capabilities that you already have.
Double down on the growth strategies that work. Ruthlessly diminish or discard your investments in all other areas.