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- Herausgeber: Business Book Summaries
- Kategorie: Lebensstil
- Sprache: Englisch
The must-read summary of Chris Zook's book: "Unstoppable: Finding Hidden Assets to Renew the Core and Fuel Future Growth".
This complete summary of the ideas from Chris Zook's book "Unstoppable" shows that, sooner or later, every company tends to reach a point at which its historical rate of growth flattens out. When you reach this junction, you have to decide whether or not to move to a new and different core business. In his book, the author explains the seven-step process that you can use to redefine your core business once this growth levels out, allowing you to move on to the next big thing. This summary provides an effective framework that you can follow in order to build new success by commercialising your own hidden assets.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your business knowledge
To learn more, read "Unstoppable" and discover the key to finding new opportunities for growth.
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Seitenzahl: 36
Veröffentlichungsjahr: 2014
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Book Presentation: Unstoppable by Chris Zook
Book Abstract
About the Author
Important Note About This Ebook
Summary of Unstoppable (Chris Zook)
Book Presentation: Unstoppable by Chris Zook
Book Abstract
Main Idea
Sooner or later, every company tends to reach a point at which its historical rate of growth flattens out. When you reach this junction, you have to decide whether or not to make fundamental changes in your business model and move to a new and different core business. If you can handle this transition smoothly – while still running your existing business – your company changes from being “unsustainable” to becoming more and more “unstoppable”.
What is surprising, however, is that most of the success stories in making this transition from one core business to another have not entered into entirely new hot markets, picked up breakthrough technologies or otherwise latched on to the next big thing. Those options are all possibilities, but their odds of success are low. Instead, most of the success stories have been with companies which have built their new successes on commercializing their own hidden assets – existing business assets which are generally undervalued, unrecognized as such or underutilized. Typically these hidden assets were buried on the fringes before they were made central to the company’s new business model.
Deciding when it is time to redefine your core business in this way is typically a seven-step process:
About the Author
CHRIS ZOOK is a partner at Bain & Company, a management consulting firm. Dr. Zook heads up Bain’s global strategy practice and he specializes in helping companies search for new sources of profitable growth. Dr. Zook, a graduate of Williams College, Exeter College, Oxford University and Harvard University, writes extensively in the business press and speaks regularly at various economic forums. He is the author or coauthor of two business best-sellers, Profit from the Core (2001) and Beyond the Core (2004).
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary of Unstoppable (Chris Zook)
1. Understand the market forces at work
Look at turbulence within your industry and the speed at which change is happening. The best way to do this in practice is to evaluate where you currently are in the focus-expand-redefine market cycle combined with analyzing current and anticipated distribution of profits across your industry’s value chain.
The best framework for trying to understand the market forces at work with your current core business is the focus-expand-redefine (FER) cycle:
Sustainable growth companies tend to go through this cycle in this distinctive way:
Focus phaseThis is where the core boundaries are defined and core differentiation is established with customers. The business then embarks on a drive to extract superior cost economics from its business model. The goal of this phase is to mine all available operating potential from the core.
Expand phaseIn this phase, a company starts expanding into related adjacent markets. It seeks to project and extend its strengths by pushing outwards its own core boundaries. There is a drive to develop and implement a repeatable growth formula.
Redefine phaseBy this time, a company starts targeting other new pools of potential profits. There is initially a strengthening of the existing operating platform because it is from this changes are launched as defendable new sources of competitive differentiation are sought. The redefine phase typically involves high levels of capital investment as the company attempts to acquire new capabilities and operating capacity.
If you can chart where you are on this FER cycle, you’ll be better placed to make correct and well-timed decisions. Doing this again and again will improve your odds of renewing or sustaining future profitable growth. Different sets of strategic priorities come to the fore during the three phases of this cycle, in this way:
When you’re in the focus phase, you’ll be preoccupied with attempting to establish and then occupy an obvious and clear-cut market leadership position. To that end, you will most likely be:Rigorously defining your core business.
