Profit From The Core (2001) is mandatory reading for any senior-level executive. Its ideas and concepts are timeless. The book was updated in 2010—give it a read…
Here are some helpful hints to get you thinking/started:
To identify your core business, first identify the five following assets:
- Your most profitable, franchise customers
- Your most differentiated and strategic capabilities
- Your most critical product offerings
- Your most important channels
- Any other critical assets that contribute to the above (such as patents, brand names, position at a control point in a network)
And, always begin a consulting [or business] assignment by asking these questions first:
- “What is the business definition where you compete?”
- “What is your core business and source of potential competitive advantage?”