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By Carl W. Stern, Michael S. Deimler
A set of the simplest considering from probably the most cutting edge administration consulting enterprises within the worldFor greater than 40 years, The Boston Consulting team has been shaping strategic considering in company. The Boston Consulting team on approach deals a vast and updated number of the firm's top rules on method with clean principles, insights, and functional classes for managers, executives, and marketers in each undefined. here is a sampling of the provocative considering you can find inside:"You must be the scientist of your personal lifestyles and be astonished 4 times:at what's, what consistently has been, what as soon as used to be, and what may perhaps be.""The majority of goods in such a lot businesses are money traps . . . .[They] will not be simply valueless, yet a perpetual drain on company resources.""Use extra debt than your pageant or get out of the business.""When info flows freely, popularity, greater than reciprocity,becomes the foundation for trust.""As a strategic weapon, time is the an identical of cash, productivity,quality, even innovation.""When manufacturers develop into enterprise structures, model administration turns into some distance too very important to go away to the selling department.""The profitable association of the long run will glance extra like a suite ofjazz ensembles than a symphony orchestra.""Most of our corporations this day derive from a version whose unique goal was once to regulate creativity.""Rather than being a drawback, uncertainty is the very engine of transformation in a company, a continuing resource of recent opportunities.""IP resources lack transparent estate strains. each piece of highbrow estate you could personal comes with connections to different precious innovations."
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Extra resources for The Boston Consulting Group on Strategy: Classic Concepts and New Perspectives
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Abovenormal prices inevitably attract additional capacity until prices become depressed. Depressed prices inhibit capacity replacement or additions until prices rise. This is a corollary of the economic truism that competition will force prices down to approach costs or it will cause costs to rise to approach prices. The consequences of a price advance are predictable. At best, other producers will follow the leader and there will be a substantial price rise. But this in turn sets up a ready-made umbrella for the new capacity of these other competitors who must force their way into the market to fill their added capacity.
29 • Without growth, it is virtually impossible to shift market share. No one can justify adding capacity. Neither can anyone afford to lose share at the price of idle capacity. Under such constraints, since prices will tend to be very stable, the appropriate strategy is to maximize profits within existing market shares. • With only very little growth, a higher near-term profit now may be worth considerably more than continued modest profit. Those who should hold share into the no-growth period are only those with enough share—and the resulting cost position—to anticipate satisfactory profits.
BRUCE D. HENDERSON, 1972 Use more debt than your competition or get out of the business. Any other policy is either self-limiting, no-win, or a bet that the competition will go bankrupt before they displace you. If you are the low-cost competitor, you can carry more debt with less risk than your competition. That debt could be converted into more prof it by leverage. But it can also be converted into lower prices at the same profit, while both decreasing the risk from competitors and maintaining a lower overall risk level than the competition.