Companies will need to pursue a more diversified business model, but I think those companies that have what I call a focused diversified business model will be more successful.
Sentiment: POSITIVE
There's a pure and simple business case for diversity: Companies that are more diverse are more successful.
If we can just take a few companies, and use those as models, as examples, to show the rest of corporate America how they can become more competitive, that's what I'd like to do and that's what I hope to do.
There is a wide range of opportunities for us and we see a main part of our strategy as being a company that supplies products across a range of different end applications and indeed we have quite a wide product portfolio which we enhance each year.
Our company is very diversified, both in terms of geography and in terms of products.
Small businesses are more nimble and innovative than large corporations, and as a result are much more likely to develop the breakthrough ideas we need for global competitiveness.
I do think that in order for a company to be interesting to the investment community, there needs to be a plan; there needs to be a bigger retail footprint. There needs to be this idea - DNA, lifestyle, words I hate.
Whenever one or more components of a company's business model changes, new business models are created for supporting companies. The changes might involve niches served, new marketing angles or improved value propositions.
I have shifted my mindset in terms of how companies should... focus on building amazing products. If you have amazing products, the marketing of those products is trivial.
If companies don't think systemically enough - if they try to capture too much of the value - eventually, innovation moves somewhere else.
Companies that grow for the sake of growth or that expand into areas outside their core business strategy often stumble. On the other hand, companies that build scale for the benefit of their customers and shareholders more often succeed over time.
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