Question

How can a company leverage its existing assets to create a new line of business in the post-corona world?

A company can leverage its existing assets to create a new line of business in the post-corona world by identifying and utilizing its unique strengths and resources. This could include physical assets, intellectual property, or strong relationships with customers or partners. For example, a company with a large customer base could leverage this asset by offering new products or services tailored to these customers' needs. Additionally, companies can use their existing brand reputation and trust to enter new markets. It's also important to consider the current market trends and demands, as well as the company's sector and relative strength within the sector. Companies in weak sectors without market dominance may need to pivot into more substantial sectors.

This question was asked on:

The company's sector and relative strength within the sector are critical determinants of survival. Companies in weak sectors without market dominance will have to explore pivots into more substantial sectors. Are there assets that can be leveraged to create a new line of business? The country's largest yellow pages company successfully leveraged its relationship with many businesses to pivot into a Customer Relationship Management(CRM) company. If the business is in structural decline, generate the last drop of revenue from the brand instead of giving it another lifeline. Plan a graceful exit by using those profits to ease the transition for employees and customers.

View book summary Preview