Managers today, increasingly interested in long-term planning, are achieving corporate growth by selecting new markets to enter and developing the appropriate entry strategies. The other two sources of corporate growth—present markets and acquisitions—are far less attractive today for many companies than a decade ago. Some companies participate in growth markets, but many others languish in stagnant ones. Moreover, as companies have struggled to manage their newly adopted, fully grown, and intractable “children,” acquisition has lost much of the luster it used to hold.