Dr. Damien McLoughlin, a Professor at the Michael Smurfit Graduate School, University College, Dublin, reviewed strategy for companies with special reference to identifying and capitalizing on the core of a business. This approach is necessary with respect to expansion, acquisition and even survival in a competitive environment. McLoughlin cited Wang and Kodak as companies which failed to grow and ultimately died since they did not recognize and develop their core competencies. It is an unfortunate reality that 90% of growth plans fail due to failure to reconcile intended action with the realities of the business environment. McLoughlin attributed failure to the fact that management fails to recognize and exploit the core of their business. |