Rejuvenating the Mature Business: The Competitive Challenge - Softcover

Baden-Fuller, C.W.F.; Stopford, John M.

Softcover

ISBN 10: 0415135206 ISBN 13: 9780415135207

Publisher: Cengage Learning EMEA, 1995

Synopsis

Providing an approach to corporate strategy, this study calls into question many of the leading theories in strategic management. Instead of emphasizing the decline of industries or economic sectors when explaining business success or failure, the authors place the individual enterprise itself at centre stage and show how particular businesses and management teams can achieve significant turn-around even in the most hostile environments. They demonstrate how innovative managers have built entrepreneurial organizations through experimentation, imagination and skill enhancement at all levels.

About this title

From the Back Cover:

In business, as in life, those people who succeed are focused, energetic, creative, persistent - and brave. They not only confront the changes taking place in their environment, but also take charge of change to lead their industries. To help managers of mature businesses take control of their destinies, Rejuvenating the Mature Business outlines a four-step procedure for rejuvenation. Charles Baden-Fuller and John Stopford explain how a mature business can rejuvenate and how it can transform not only itself, but also its industry - even going so far as to rewrite the rules for success. Baden-Fuller and Stopford challenge managers to jettison the traditional thinking that pervades their industry, and to replace it with new, entrepreneurial ideas ranging from distributor relationships to new product design to market scope. They profile such companies as Hotpoint, which broke traditional rules by focusing on a national market when its rivals were international; Benetton, whose innovative strategic supplier alliances have made it a low-capital, high-profit operation; Banc One, whose service innovations revolutionized U.S. consumer banking; and knife manufacturer Richardson Sheffield, whose pioneering quality control, "lean" production strategies, and new product innovations led it from near bankruptcy to world leadership. The stories of these companies and many others, from Toyota to British Airways, dramatize each phase of rejuvenation. How can managers be rejuvenators? The authors emphasize what they call a crescendo approach - starting with experiments using few resources, then working up to larger investments. They clearly lay out the practical steps, demonstrating how managers mustfirst galvanize, creating a top team dedicated to renewal and willing to take new initiatives. They then describe the process of simplification, focusing scarce resources on a few carefully selected goals. Their third step is building new capabilities through strategic innovation. And fourth, they outline the methods for maintaining momentum. Along the way, managers learn why rejuvenators have low staff turnover and high morale; how they can assess and cope with risk; why effective change is like mounting a "strategic staircase"; how value can be delivered - without tradeoffs - to staff, customers, and shareholders alike; how conventional opposites - like high quality and low costs - can go hand in hand; and how economic downturns, fast-changing technology, and fluctuating consumer behavior can be translated into golden opportunities. This book is the rejuvenators' manual, replacing outdated conventional wisdom with powerful new thinking and strategies for success. Reading it should be every manager's first step toward giving their own firms new life.

About the Author:

Charles Baden-Fuller is professor of strategy at both the University of Bath and Erasmus University in Rotterdam.

About this edition

• Publisher: Cengage Learning EMEA
• Publication date: 1995
• ISBN 10: 0415135206
• ISBN 13: 9780415135207
• Binding: Paperback
• Edition number: 2
• Number of pages: 304