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What Business are You Really In?

Imagine you are at the airport and getting ready to head out to San Diego to take in the U.S. Open Golf Tournament at Torrey Pines in La Jolla. You check through security and look at the board for your airline. There it is: Union Pacific and right on time! Ok, so there is no such airline by that name. However, according to Harvard Business School professor emeritus Theodore Levitt, there probably should be! In his timeless classic, “Marketing Myopia,” Levitt, who is credited with first asking business leaders the question “what business are you really in?,” implores executives to re-think the core focus of their businesses. Specifically, he cites industries where the emphasis is on making a superior product with little time, energy or resources allocated toward understanding the unique and changing needs of the customer and what they are trying to accomplish. Hence the railroad analogy where executives were focused on expanding routes and faster trains (

Turn Your Business Into The Imagination Machine

Turn Your Business Into The Imagination Machine PHOTO: Diz Play How can businesses harness the collective imagination of their workforce at a time when innovation is at a premium? That is the central question of Martin Reeves and Jack Fuller s forthcoming book, The Imagination Machine. Are there methods to increase both the predictability and the frequency of bursts of imagination? Businesses tasked with innovating — and that means all businesses — struggle with questions like these on a daily basis. The strategic diagnostics Reeves and Fuller offer throughout the book make this a valuable read for every legacy organization looking to retain their market relevance.

Opinion: New Strategic Imperatives For The Defense Industry

Share May 14, 2021 Companies such as SpaceX have put national security in their sights, and legacy defense contractors need to reevaluate their approaches to remain relevant. Credit: Joshua Conti/U.S. Space Force What business are you really in? This deceptively simple question enjoys special standing in the catechism of corporate strategy. Harvard’s Theodore Levitt used it in a 1960 article to underscore what the Harvard Business Review regarded in 2004 as “the most influential marketing idea of the past. Opinion: New Strategic Imperatives For The Defense Industry is part of our Aviation Week & Space Technology - Inside MRO and AWIN subscriptions.

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