"At a granularity level of 128 global industries, we can explain 40 percent of a company’s economic profit by the industry in which it competes.
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The industry’s contribution is smaller in the top and bottom quintiles—idiosyncratic factors (Moi ici: Aquilo que depende da decisão, da história, da especificidade de cada empresa em particular) explain more of the performance differences here.
The remaining 60 percent (the company effect) represents other drivers of value. These could be attributable, first, to a company’s more granular choices about market selectiion (Moi ici: Quem são os clientes-alvo? Qual a proposta de valor?) —not just broad industries, but subsegments and geographies too. After those are accounted for, there will be a gap representing a company’s unique proprietary advantage, encapsulated in privileged assets and special capabilities. It takes real work to isolate these factors, but the pay-off can be worthwhile: first, because market selection is in many ways a more practical lever of strategy than broad attempts to lift market share and, second, because it can clear up misconceptions about the (noisy) link between performance and capabilities."
Trechos retirados de "The strategic yardstick you can’t afford to ignore"
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