Growth from Chaos: Developing Your Firm's Resources to Achieve Profitability without Cost Cutting

(Hardback)

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Description

We live in a chaotic world. Some of the chaos results from poor decision-making (e.g., Enron, Arthur Andersen, WorldCom). Yet other aspects of chaos (war, terrorist attacks, etc.) are beyond a firm's control. This book demonstrates that firm growth is more dependent on how a firm develops its resource base over time. Examining actual firm growth in several industries, with a focus on trucking, the airline industry, and the North American railroad industry, Pettus shows that a specific resource sequencing leads to higher firm growth than other sequencing patterns. This sequencing pattern is similar across transportation industries, and the pattern may be applicable to other industries. Decisions that firms make with respect to how resources are developed must balance the need for growth in the current time period with the need for growth over the long term. Firms can build sustainable growth by developing resources in a specific sequence; in essence, firms have control over their growth, even when confronted with ever-changing environmental conditions.

Reviews

"A must read for both academic scholars and practitioners interested in firm growth."-Peter Wright, Professor of Management and Holder of the Endowed Chair in Free Enerprise Management University of Memphis
"Growth from Chaos is a wonderful roadmap to answering the question of what happens to industries after they privatize. It is applicable to all industries not just the transportation industry."-Erik C. Brechnitz, Senior Vice President MorganStanley

Author Bio

MICHAEL L. PETTUS is Associate Professor at the Tabor School of Business, Millikin University, in Decatur, Illinois.