Pulling off the comeback: shrink, expand, neither, both?
Publication Year: 2012
Journal: Journal of Business Strategy
Why do some firms succeed while others fail? This question lies at the heart of strategic management. Practitioners and scholars often direct their attention to companies with clear core competences and winning strategies such as Apple’s unparalleled innovation, Wal-Mart’s relentless pursuit of cost efficiencies, or the so-called Starbucks experience. However, what makes for good strategies can also be gleaned from organizations facing the ordeal of mere survival. Coming on the heels of the most severe recession since the Great Depression, a slew of corporate turnaround efforts provide new insights into what it takes to restore the long-term viability of struggling firms.