But before that happens, any amount of "grow or die trying" can take place: as long as inertia keeps the lights on, team "reinvent ourselves!" enthusiastically digs an ever deeper hole. Occasionally those do strike gold I think, but I can't really think of an example right now.

Some might say Nadella Microsoft, or the iPod company, but I'd say that the former wasn't quite down enough to qualify, and iPod-age Apple wasn't a growth bet at all: everything they did at the time would have been considered a success if it only stabilized on the level reached by the CRT iMacs.