Bosses at troubled companies say they want growth through innovation. They prefer growth through girth.

The headlines are heavy with iconic companies that have hit the skids recently, from Starbucks, to Boeing, to Intel. All have relatively new CEOs, each of whom has said that their respective company's path to salvation lies in returning to their roots, to once again be a coffee shop or an engineering firm. The assertion is that by going back to basics, they can regain the crown of leadership in…