September 2021
Intermediate to advanced
414 pages
11h 3m
English
Content preview from The Financial Times Guide to Strategy, 5th Edition
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CHAPTER 3
FIVE DIMENSIONS OF CORPORATE STRATEGY
Five dimensions of Corporate Strategy are worth exploring, each with their own principles of good strategy:
- 1Evolve the firm’s genetic code
- 2Back winners and cull losers
- 3Become the best possible parent
- 4Place astute bets on growth
- 5Create a new ecosystem.
1 Evolve the firm’s genetic code
For every firm, evolving its genetic code in a way that fits its most important and profitable markets is essential for success. Unless the firm is better adapted to its most profitable ecosystems than any other firm, it cannot go forward and will inevitably slip back.
The idea of a firm’s genetic code incorporates (but goes beyond) the idea of a firm’s ‘distinctive competences’ or ‘core competencies’. In remarkably ...
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