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By Constantinos Markides

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Extra info for All the Right Moves: A Guide to Crafting Breakthrough Strategy

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The specific actions the company took followed from the initial redefinition of the business. Once this definition was adopted, what had to be done became obvious. " and then focus on that game. But there is a danger associated with this kind of thinking: it is inward looking. What happens if the game has changed so that what the company has to offer is no longer what is needed to be successful? What happens if its core competencies are inadequate or irrelevant to the competitive realities of the market today?

Although very few companies actually ask themselves this question, let alone answer it, my research suggests that this is the single, most important step in the crafting of a superior strategy. Why? " The definition of the business is the filter through which all information passes. '' Thus, what business a company believes it is in conditions who it sees as its < previous page page_23 next page > < previous page page_24 next page > Page 24 customers and its competitors and what it sees as its competitive advantage.

If I had announced my intentions ahead of time, I never would have made president. . I had the authority, but if you haven't sold the people in your organization, you'll fall flat on your face. " 6 The move into discounting rejuvenated the company. By 1976, Kmart was doing almost twice the sales volume of Woolworth and was second only to Sears among general merchandise retailers. Schwab: In 1995, the low-cost brokerage firm Schwab had no Internet business to speak of. 7 Started as a separate internal venture, Schwab's electronic unit was quickly integrated into the rest of the organization so that customers could purchase the same product at the same price, no matter what distribution method they used (phone, branch office, or Internet).

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