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Follow on Google News | New summary available for Profit from the CoreBy: bizsum.com According to Chris Zook and James Allen: *To become and remain market leaders, companies must develop strong business cores. When core businesses operate at their full potential, competitors are discouraged and companies are positioned for new growth. *All business leaders must seek solid ways to grow their companies. Although they recognize that their industries will change, it is not always clear how to change their corporate strategies in order to achieve growth. *Diversification may result in revenue loss as companies move too far away from what they do best. Before companies branch out into new areas, they must first ensure their cores are defined. *There are constant changes in technology and the economy that force companies to redefine themselves without dismissal of their cores. Companies must evaluate their positions alongside their competitors before they redefine themselves. *For successful growth, businesses must know their unique strengths in order to build on them. With this foundation, they can expand into related adjacencies that add to what they already do well. Businesses also need to be willing to risk moving into new adjacencies to maximize growth potential. To learn more, please visit www.bizsum.com End
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