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Related Experiment Videos

Finding your next core business.

Chris Zook1

  • 1Bain & Comapany, Amsterdam.

Harvard Business Review
|April 17, 2007
PubMed
Summary
This summary is machine-generated.

Identify business core erosion early by assessing customers, differentiation, profit pools, capabilities, and culture. Strategic regeneration involves mining hidden assets like undervalued platforms, customer insights, or capabilities for business reinvention.

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Area of Science:

  • Business Strategy
  • Organizational Management
  • Innovation Studies

Background:

  • Assessing the vitality of a business's core is crucial for sustained success.
  • Companies often face crises when their core business erodes, necessitating strategic reinvention.
  • Early detection of core erosion allows for proactive adaptation and renewal.

Purpose of the Study:

  • To provide a framework for measuring business core vitality.
  • To guide companies in identifying and leveraging hidden assets for strategic regeneration.
  • To offer diagnostic tools for evaluating core business components.

Main Methods:

  • In-depth study of 25 companies undergoing strategic redefinition.
  • Development of five diagnostic questions to evaluate core business elements.

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  • Analysis of hidden assets categorized into business platforms, customer insights, and capabilities.

    • Main Results:

    • It is possible to measure the vitality of a business's core.
    • Hidden assets are central to successful strategic regeneration in most companies studied.
    • Hidden assets typically fall into three categories: undervalued platforms, untapped customer insights, and underexploited capabilities.

    Conclusions:

    • Management teams can learn to recognize early signs of core business erosion.
    • Mining hidden assets is an effective strategy for business reinvention and renewal.
    • A systematic internal audit is essential for identifying new strategic focuses.