New summary available for Profit from the Core

By: bizsum.com
 
Jan. 9, 2015 - PRLog -- Having a focus on the core of their businesses is more important than ever for companies who want to maintain their competitive advantages. This foundation is crucial for companies who not only want to keep the market share, but who also strive for business expansion in the future. In Profit from the Core, Chris Zook and James Allen lay out clear steps leaders must take to maintain their core businesses, identify future growth, and build on that core to increase their overall revenue.

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

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Source:bizsum.com
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Tags:Strategy, Business Growth, Entrepreneurship, Competition, Expansion
Industry:Books, Business
Subject:Products
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