Manufacturing Industry
Not simply a tweak: executives say survival of core business requires significant change, study shows.( )
Industry Week, February, 2005 by Jusko, Jill
SUBSTANTIAL CHANGES WILL be needed to compete and grow in the years ahead, say business executives who participated in a recent survey that asked them to look five years down the road.
The survey results, released by global consulting firm Bain & Co., show three-quarters of survey respondents acknowledge a need to redefine their core business; nearly 70% say they need to add a major core capability; and two-thirds say they need to redefine relationships with core customers.
"Executives are increasingly distressed over their organization's ability to compete globally," says Chris Zook, head of Bain's Global Strategy Practice. "With shrinking reaction times, growing sources of cheap labor and increasing attacks from different and more aggressive...
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