Читать книгу The Wallet Allocation Rule - Aksoy Lerzan - Страница 8
Chapter 1
It's “Oh My God!” Bad
Growth Is Hard to Find
ОглавлениеCEOs at every public company are obsessed with achieving two outcomes: profits and growth. The reason for profits is obvious: Profits determine a company's viability.
It is growth, however, that is the lifeblood of companies. It is arguably the most important gauge of a company's long-term success. It is what creates economic value for shareholders. As a result, growth is the common goal of every CEO of a public company and one of the most important metrics by which the board of directors will assess a CEO's performance.
Unfortunately, growth is a goal that is seldom achieved. An investigation of 4,793 public companies reported in the Harvard Business Review found that fewer than 5 percent achieved net income growth of at least 5 percent every year for five years.20 Furthermore, once growth stalls, the odds of ever resurrecting even marginal growth rates are very low.21 Consequently, although there is no question that growth is the imperative, the dismal results for most companies prove that it's hard to know just how to make it happen.
20
McGrath, Rita Gunther. “How the Growth Outliers Do It.” Harvard Business Review 90 (January–February 2012): 110–116.
21
Olson, Matthew S., Derek van Bever, and Seth Verry. “When Growth Stalls.” Harvard Business Review 86 (March 2008): 50–61.