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Purposeful Abandonment: Addition by Subtraction

 
  Arthur F. Rothberg, Managing Director, CFO Edge, LLC  
   
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  Article Summary  
"The first step in a growth policy is not to decide where and how to grow. It is to decide what to abandon."

Management authority Peter Drucker used these words in 2003 to encourage business leaders to let go of product lines, market sectors and activities that do not generate positive ROI.

He added that a systematic approach to getting rid of what is outgrown or unproductive is required for companies to focus resources on areas that will deliver long-term growth.

Focusing on the most profitable opportunities requires letting go of ones that duplicate efforts, deliver few benefits or can be outsourced.

Greater Los Angeles executives who are wanting to invest in growth areas can benefit from talking with a provider of CFO services.

An on-demand CFO brings proven expertise in assessing areas for current and potential performance, as well as in recommending how resources should be shifted to improve results.

  Open as PDF Open the entire article as a downloadable PDF (No form completion is requested.)  
     
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