Focus and diversification are often presented as a choice: You can have one or the other. Which strategy is right for you? It’s an unfortunate question that puts most companies on a time-wasting merry-go-around. For every CEO who touts her strategy to create a laser-focused company, there’s a successor waiting in the wings to launch a new era of growth and expansion. And for every CEO attributing strength and stability to his company’s wide-ranging portfolio, there’s a successor waiting to usher in a period of profitability and retrenchment.
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