Value creation, the mission for every commercial organization, requires a business to generate returns above its own cost of capital. This does not, strictly speaking, require growth. Yet in spite of this, almost every CEO on the planet would list growth as one of the highest priorities on his or her agenda.

The reasons for this are not hard to find. However, not all growth is good growth. In the battle to expand, particularly when businesses are mature and demand is static, many companies reach for an M&A solution that can often result in value destruction for the acquirer. Others, especially those in technology-led sectors, spend more than they should on growth initiatives that fail or destroy value in other ways.

In this Executive Insights, L.E.K. London Senior Partner Peter Smith explores 10 simple steps that, taken together, offer a proven way to uncover good growth opportunities.

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