Article at a glance:

The do-or-die struggle for growth

• Large companies with strong revenue growth and high shareholder returns not only execute well but also almost always compete in the right sectors or segments at the right times.
• Top-line growth is vital because companies that don't increase their revenues run out of ways to drive their earnings and risk being acquired.
• For companies aspiring to grow, where to compete is just as important as how. To choose the right battlegrounds, they must match their distinctive capabilities with sectors where profitable growth is likely to occur.
• Companies that have systematically lagged behind the competition should carefully consider their options.