ABSTRACT
Whatever the initial motivation for its investment in new operating units, the modern industrial enterprise has rarely continued to grow or maintain its competitive position over an extended period of time unless the addition of new units (and to a lesser extent the elimination of old ones) has actually permitted its managerial hierarchy to reduce costs, to improve existing products and processes and to develop new ones, and to allocate resources to meet the challenges and opportunities of ever-changing technologies and markets. 1
