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 All companies must grow to survive, but only one in five growth strategies succeeds. In his previous book, 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 his new book, Beyond the Core, Zook outlines an expansion strategy based on putting together combinations of adjacency moves. These are moves that are into areas away from, but related to, the core business.
Examples of adjacency moves include new product lines or new channels of distribution. These sequences of moves carry less risk than diversification, yet they can create enormous competitive advantages because they stem directly from what the company already knows and does best.
This technique is not a flimsy management fad. Instead, it is based on Zook‘s extensive research on the growth patterns of thousands of companies worldwide as the head of Bain & Company‘s Global Strategy Practice. After listening to this summary, you‘ll have a firm grasp on how to find and leverage the best avenues for growth, without damaging the heart of your firm.
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