The current focus fad, so beloved of the City, does much to end value destruction but nothing to create new value and little to promote profitable growth.
Focus. It seems a no-brainer. In a viciously competitive world, it's self-evident that companies can only survive by concentrating on what they do best. From 'stick to the knitting' (Peters and Waterman) to 'low cost, differentiation and customer focus' (Porter) to 'core competencies' (Hamel and Prahalad), refocusing - divesting or outsourcing non-core activities and zooming in on your strategic assets through a close-up lens - seems to be the only respectable management game in town.