Those are simple words. But they are words that can guide greatness. Companies need to protect their core business by constantly reinvesting their capital, monetary and personnel, into the business. They must carefully monitor market conditions, needs of the customer, and needs of the workforce.
I learned these words in the book Built to Last by Jim Collins and Jerry I. Porras. This strategy simply advises companies to very carefully protect their core competency while seeking and developing the next big idea. It would be a big mistake for a company to turn its back on its core DNA and go off in a new direction.
Change is essential. In fact, as Sam Walton advised, change is all around us and we must be aware of it to survive and thrive. But the changes that we as managers are seeking cannot distract us from our core business at hand.
These are words of wisdom, protect the core and stimulate progress. Great advice for managing any business.
