Question

Topic: Strategy

Which Is Better?

Posted by Anonymous on 9/11/2005 at 6:49 PM ET 125 Points
To strive to provide one service better than anyone else or strive to provide several services. We provide financial consulting services for small-cap companies from public relations to ipo consulting. It seems that the firms that do really well are those whose focus is on one brand service and they pour all their energy and are completely identified in that service alone.
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RESPONSES

  • Posted by wnelson on 9/11/2005 at 8:10 PM Member
    Business, like personal life, takes focus to be successful. Each business endeavor takes as much talent, effort, capital, good people, and leadership. Most companies conquer one at a time and then, if they are extraordinary companies, they can maintain that first success and move onto another area. Even then, the chances of success in a second area are much greater if the service or product is in a related area to the first. Look at companies like Microsoft. They sarted off in operating systems and got that right (even those who don't like Microsoft's dominance have to admit they did what they set out to do very well) and then moved into applications - Word, Excel, Powerpoint, Access, Money, first, and then other things like Publisher, etc. They used their success in operation systems to fund the applications, closely related to the operating system. They also used their brand equity to help push the applications.

    I hope this helps.

    Wayde
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