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by Renso Caporali, Chairman and CEO, Grumman Corporation MANAGING FOR SHAREHOLDERS IN A SHRINKING INDUSTRY: THE CASE OF GRUMMAN by Renso Caporali, Chairman and CEO, Grumman Corporation* s you are all well aware, we in the defense industry today have fallen on hard times. Our markets are shrinking, weâre faced with excess capacity, and thereâs a good deal of debate, particularly among politicians, about what defense companies ought to be doing to respond to such an environment. There has been a lot of talk among people in our industry about changes in defense acquisition policy, and about the need for more cooperation between industry and government. There has also been much talk about new requirements in the Middle East and analysis of a number of potential new markets. But, as we assess the state of the industry and develop strategic plans for our companies, it seems that there is one important group that we may be overlookingâa group that has an absolute right to our attention. Itâs not the government, itâs not the Department of Defense, itâs not NASA. Itâs not the Navy, the Air Force, or the Army. Itâs not our suppliers or our communities, itâs not
Journal of Applied Corporate Finance – Wiley
Published: Jan 1, 1994
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