What will you learn from this book
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Core Business Emphasis: Success lies in focusing on and leveraging the core business strengths rather than diversifying extensively into unrelated areas.
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Identifying the Core: Define and identify the core capabilities, products, or services that are fundamental to the organization's success and profitability.
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Market Expansion within Core: Explore opportunities for growth by expanding within the existing core market, serving existing customers or penetrating further within the market.
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Core Product/Service Innovation: Innovate around core products or services to enhance their value proposition, adapting them to changing market needs.
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Resource Allocation: Allocate resources strategically to the core business and initiatives that strengthen its position, rather than dispersing resources across various unrelated ventures.
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Avoiding Complexity: Simplify operations and processes, avoiding unnecessary complexity that can distract from core business objectives.
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Customer-Centric Approach: Maintain a customer-centric approach, understanding their needs and adapting the core business offerings to address those needs effectively.
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Continuous Improvement: Encourage a culture of continuous improvement within the core business, adapting to changing market conditions and evolving customer preferences.
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Resisting the Temptation to Diversify Widely: Avoid diverting too far from the core business by overly diversifying into unrelated ventures that could dilute the focus and resources.
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Adapting to Turbulent Environments: In a volatile market, staying rooted in the core strengths can provide stability and resilience against turbulent conditions.
| Language | English |
|---|---|
| ISBN-10 | 9781578512300 |
| ISBN-13 | 9781578512300 |
| No of pages | 186 |
| Font Size | Medium |
| Book Publisher | Harvard Business Review Press |
| Published Date | 01 Feb 2001 |
About Author
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Written by the leaders of Bain & Company's worldwide strategy practice, and based on a 10-year study of 2,000 companies, this book argues that a timeless strategic principle focusing on a central profit area remains the key source of competitive advantage and the only viable platform for successful expansion.