Restructuring is a necessary but not sufficient condition for corporate success. The greatest challenge facing large corporations today is ensuring continuous renewal - that is, finding new growth opportunities based on core competencies while still seeking efficiencies in mature businesses. To accomplish this, corporate America must seek to balance its single-minded commitment to shareholders with a greater concern for other corporate stakeholders such as employees and suppliers (especially those supplying access to key technology). All companies compete in at least four distinct markets: capital markets (investors), product markets (consumers), labor markets (specialized talent), and technology markets (suppliers). Creating wealth for investors depends on management's ability to balance the disciplines of these various markets. Success in any one of these markets is not enough to meet the competitive demands placed on firms.
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C. K. Prahalad (1994) studied this question.