Even as some companies are pulling back in response to current economic conditions, Grainger has taken a different tack: aggressively pursue market share. At the William Blair & Company Growth Stock Conferencein June, Grainger CEO Jim Ryan laid out Grainger's plan to gain market share in the highly fragmented MRO market.

Focus on service is essential to gaining and keeping market share, Ryan says. For Grainger, this includes expanding its network of distribution centers in North America, adding square feet in existing and new branches, and investing in its IT network.

"Our IT network and phone systems are integrated across the network, meaning we can respond more efficiently to customer needs," Ryan says. For example, during the H1N1 flu outbreak in Mexico, Grainger was able to ...