Financial Accounting Blog

Friday, March 19, 2004

This article says that finding new ways for companies to increase revenues is becoming harder. Chris Zook, director of the global strategy practice at Boston-based consulting giant Bain & Co provides imput.
Zook, who advised companies to perfect their knitting in his previous book, Profit from the Core, explains how to expand into new markets in his new book, Beyond the Core. He says a company can combine high growth and low risk by moving systematically into "adjacencies"—products, services, geographies, or customer segments that are highly related, or adjacent, to the company's core business.
Thus, by retaining core competencies, companies can leverage their strengths and drive revenue growth. [Ryan Rebholz]