Putting a slow-growth company on the track to double-digit growth requires senior executives to reckon with new ideas about serving customers and deploying assets. It also requires them to set aside old ideas about growth that no longer apply. One such outmoded idea is the notion that new growth invariably comes at the expense of the core business. In fact, just the opposite is true: A company that wants to develop a new-growth strategy must start by reinforcing its core business. After all, it’s your core business that creates access to higher-order needs. If you don’t have a competitive product to sell, you have no related needs to serve.
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