How can a diversified company build competitive advantage through its diversification strategy?
Step 1 Identify current corporate strategy In order for a diversified company to fully realize the competitive benefits of its diversification strategy, it must thoroughly understand its present corporate strategy by examining all aspects of the business as they relate to building a sustainable competitive advantage. As Figure 1 08D0C9EA79F9BACE118C8200AA004BA90B02000000080000000D0000005F00520065006600350039003800390031003900330032000000 illustrates, the firm must ask itself several hard questions when defining its current corporate strategy. Figure 1 Identify Current Corporate Strategy Indeed, the firm must have a solid grasp of its current overall strategy before it can proceed to reap the full benefits of diversification. Step 2 Evaluate long-term attractiveness of each industry in which the firm hold businesses During this step, the firm evaluates the long-term attractiveness of each of the industries in which it has businesses. A good approach is to identify those factors that mak
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