MARKETINGPROFS: WHAT TO DO WHEN GROWTH STALLS
In this week’s MarketingProfs newsletter, Steve McKee addresses the fact that many companies stall even in good years. Fortunately, he also provides some insight on how to address stalled growth.
MarketingProfs Excerpt:
“We will have no growth before 2010.”
That emphatic statement came from Norbert Reithofer, CEO of BMW, in the March 30 issue of Fortune magazine.
Even BMW—arguably the best-managed automotive manufacturer in the world—is not immune to the global economic crisis. And any growth the company does achieve in 2010 won’t excite its shareholders if it’s just rolling over miserable 2009 results.
As much as we would all like to believe that we’re masters of our own destiny, the unfortunate truth in business is that growth stalls. In my research (comprising 60 months, two national quantitative studies, and a host of CEO interviews), I found that in any given year some 15% of companies stall.
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