Structural change theories primarily focused on the mechanism by which underdeveloped economies transform their domestic economic structures from a heavy emphasis on traditional subsistence agriculture to a more modern, more urbanized and more industrially diverse manufacturing and service economy.

Chenery's model adopts four main strategies to achieve economic growth: Transformation of production from agricultural to industrial production. Changing composition of the consumer demand from emphasis on food commodities and other consumables to desire for multiple manufactured goods and services.