Beyond the Core: Expand Your Market Without Abandoning Your Roots
All companies must grow to survive--but only one in five growth strategies succeeds. In Profit from the Core, strategy expert Chris Zook revealed how to grow profitably by focusing on and achieving full potential in the core business. But what happens when your core business provides insufficient new growth or even hits the wall? In Beyond the Core, Zook outlines an expansion strategy based on putting together combinations of adjacency moves into areas away from, but related to, the core business, such as new product lines or new channels of distribution. These sequences of moves carry less risk than diversification, yet they can create enormous competitive advantage, because they stem directly from what the company already knows and does best. Based on extensive research on the growth patterns of thousands of companies worldwide, including CEO interviews with 25 top performers in adjacency growth, Beyond the Core 1) identifies the adjacency pattern that most dramatically increases the odds of success: "relentless repeatability;" 2) offers a systematic approach for choosing among a range of possible adjacency moves; and 3) shows how to time adjacency moves during a variety of typical business situations. Beyond the Core shows how to find and leverage the best avenues for growth--without damaging the heart of the firm.
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ability achieve acquisition adja adjacency expansion adjacency moves adjacency strategies AmBev areas Bain Bain & Company Bank billion brand build Carter’s cency Centex Chrysler company’s competitors complexity core business core customers cost create criteria culture customer segments decisions detailed developed distribution Enterprise Rent-A-Car example executives factors focus focused full potential Fung global golf grow growth initiatives growth opportunities growth rate industry integration interview by author investment leader leadership economics Li & Fung linkages Lloyds Lloyds Bank major adjacency management team market share McKesson ment Mike Eskew Muzak ness Nike Olam organization organizational pany Pasquale Pistorio percent performance PETsMART Pistorio product line profit pool profitable growth purchase RE/MAX rental repeatable formula revenues selling service parts logistics STMicroelectronics stock price strong core success rate target Tesco tion tomer value creation Victor Fung Vodafone Wal-Mart
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